What are the Best Deals for Home loans?
Posted by Shubham Housing Development Finance Company Ltd. on January 29th, 2022
Home loans interest rates are at their lowest level in years. Home loan interest rates have been low for a long time, and borrowers may find current interest rates reasonable enough to finance home purchases. It\'s also interesting that some banks offer home loans at even lower interest rates than the current 10-year government bond (G-Secs) yields. This means that you, the borrower, can provide funds at a lower cost than the government borrowing costs from the market.
The benchmark yield recently rose to a two-year high of around 6.74%, while home loans offered by some banks are available at around 6.40%. Various banks are there that offer home loan interest rates of around 6.5%. But before making a decision and looking at the current scenario, it\'s worth taking a close look at two important things:
In fact, in floating-rate home loans, the EMI changes rapidly as repo rates change. So comparing home loan interest rates with yields in g-sec is just an indicator to see the current situation. Over time, as repo rates change, your Shubham home loan will also see a change in EMI. If you have furnished your home as an end-user, investing maximum as a down payment and balance through a Loan Against Property is always the best time to buy. Also, prepare a payment schedule in advance to close the loan as early as possible and save on interest costs.
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About the AuthorShubham Housing Development Finance Company Ltd.
Joined: August 25th, 2020
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