Wednesday, March 19, 2014

Home loan interest rates: Realizing Dreams of Hundreds and Thousands

The inflation rate that is predominant in the economy results in the increase of home loan interest rates and there are no signs of inflation mellowing down. Though various measures are being taken by the Reserve Bank of India to control inflation but there is hardly any improvement on the situation.
While Reserve Bank of India is taking measures to bring the inflation under control and results will soon start coming but a defined time frame cannot be given. Besides, higher home loan interest rates are not good for the economy. To conclude, it makes a good sense to opt for a floating rate while taking a home loan.
Having your own home is every person’s dream. But with property price mounting and home loan interest rates shooting up, owning a home becomes difficult.

Summary: Banks offer different types of home loan interest rates like fixed rate that remains same throughout the loan period but floating rate of interest fluctuate on basis of the finance market.


11 comments:

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Manish said...

These days’ people are taking the housing loan to complete their dream and because of that public and private sector banks as well as financial institutions are earning a lot of profit just by distributing housing loan to those who are interested in buying residential property.

Unknown said...
This comment has been removed by the author.
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