Recently ICICI Bank launched Fixed Interest Home Loan at 10.25% for 10 years. It created buzz and i received multiple queries from my readers whether to opt for Fixed Interest Home Loan at 10.25% for 10 years or not. Sometime back i wrote a post on Truly Fixed Interest Rate Home Loans . Fixed Interest Home Loans cater to specific set of Borrowers who are basically risk averse. Fixed Interest Home Loan product is more suitable during uncertain economic conditions. Broadly speaking interest rate movement is basically a 10 year cycle in which interest rates move from bottom (Trough) to High ... Read More
Floating vs Fixed Interest Rate Home Loan
At the time of availing Home Loan, the biggest dilemma is to select Floating vs Fixed Interest Rate. Any wrong decision can put big hole in your pocket. Normally, risk averse customers opt for Fixed Interest Rate. If you decide to switch loan from Floating to Fixed during loan tenure then you might need to shell out charges upto 1% of outstanding loan amount. Let's find out pros and cons of both to solve this riddle of Floating vs Fixed Interest Rate Home Loan Floating Interest Rate Home Loan Between Floating vs Fixed Interest Rate, In Floating Home Loan interest rate is linked to Base ... Read More
15 Home Loan Hidden Charges Banks Don’t Tell
Home Loan hidden charges are back in limelight as the banks are finding newer ways to make more money out of you. Home Loan hidden charges is a grey area & there are no clear cut guidelines regarding same. In India, transparency takes a back seat and regulatory bodies are also turning blind eye towards Home Loan hidden charges. I receive lot of complaints from my readers so i decided to write a post on this topic. Like the amount charged there is no standard definition of home loan hidden charges as banks keep moulding the definitions as per their convenience. Lets go though each of these ... Read More