current loans

Tips-3 Getting a good Home Loan Interest Rate priority

The State Bank of India Home Loan scheme (popularly called the 8% scheme) is very good scheme but surely costs much more than 8% except in the first year. The success of this scheme has ensured that other banks also offer what bankers call 'teaser rate schemes a low initial rate but a higher rate after the first couple of years. Please evaluate the impact on overall cost of such rate changes over the entire loan tenure (typically 20 years). Our interest rate comparison tool gives you the average rate as well as the initial rate to help you understand them better. 

current loans

Tips-2 Getting a good Home Loan Interest Rats

Not only from the perspective of interest rates, but also the eligibility amount it is advisable that you shop around and play one provider against another. A home loan is large purchase decision; 0.2% knocked off your interest rate over a 20 year home loan can typically save you half a lakh! Apart from interest rates, also look out for various fees and charges - processing fees, pre-payment charges, legal fees, valuation fees and other hidden costs. So haggling is worth the trouble. Summon up all your bargaining powers and let banks compete for your business! Enjoy the journey.