• Home
  • Contact Us
  • Privacy Policy
  • Disclaimer
Sunday, April 18, 2021
News Nit
No Result
View All Result
  • Login
  • Home
  • Contact Us
  • News
    ADDA 247 current affairs pdf

    ADDA 247 current affairs pdf

    Bannock county jail roster

    Bannock county jail roster

    What is Roblox #legchange & Second #legchange?

    What is Roblox #legchange & Second #legchange?

    Bux.run Review – What is bux.run?

    Bux.run Review – What is bux.run?

    Bunbun Girl Roblox What is Bunbun Girl?

    Bunbun Girl Roblox What is Bunbun Girl?

    Roblox Bun Bun Hackers – Who are BunBun Hackers?

    Roblox Bun Bun Hackers – Who are BunBun Hackers?

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Politics
    • National
    • World
  • Business
  • Opinion
  • Tech
  • Science
  • Lifestyle
    • Travel
  • Entertainment
  • Health
  • Home
  • Contact Us
  • News
    ADDA 247 current affairs pdf

    ADDA 247 current affairs pdf

    Bannock county jail roster

    Bannock county jail roster

    What is Roblox #legchange & Second #legchange?

    What is Roblox #legchange & Second #legchange?

    Bux.run Review – What is bux.run?

    Bux.run Review – What is bux.run?

    Bunbun Girl Roblox What is Bunbun Girl?

    Bunbun Girl Roblox What is Bunbun Girl?

    Roblox Bun Bun Hackers – Who are BunBun Hackers?

    Roblox Bun Bun Hackers – Who are BunBun Hackers?

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Politics
    • National
    • World
  • Business
  • Opinion
  • Tech
  • Science
  • Lifestyle
    • Travel
  • Entertainment
  • Health
No Result
View All Result
Morning News
No Result
View All Result
Home Business Finance

What Are The Smart Tips For Finding The Best Home Loan?

alen Parker by alen Parker
18 November 2020
in Finance
0
What Are The Smart Tips For Finding The Best Home Loan?
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Various lenders offer affordable & comfortable home loans with easy EMI repayment options and flexible interest rates. Thus, finding the best home loan can be a difficult ordeal for both prospective new home owners and seasoned home investors. So let’s look at three important tips that can help you choose the best loan scheme based on actionable advice and accepted principles.

  1. Think Long Term

A longer repayment tenure can potentially reduce the financial stress while repaying the loan. Besides, any upward trend in interest rates on home loans will further deplete your emergency finances if the loan tenure is short. Apart from a reduced EMI, long term loans also help your chances of securing the loan. The current home loan interest rates are on the rise so consider making advance payments when and if there is a surplus in the future. Notice that in the case of floating rate loans, lenders have been barred from charging prepayment fees, while in the case of fixed-rate loans, RBI may collect or waive this charge.

READ ALSO

How To Optimize Your Health Insurance With 5 Smart Tips?

Familiarise With These Uncelebrated Car Insurance Tips

The extension of the loan tenure to the current loan is regarded as loan modification that may be subject to a rewritten standard.

  1. Large Down Payments Are Helpful

Current home loan interest rates vary and the RBI guidelines allow loans up to 75% to 90% of the costs of the property. A feature of these guidelines is that the residual amounts shall be deducted from the borrower. Many applicants try to pick a minimum down payment contribution, but the loan applicant is better to opt for a higher down payment.

A higher down payment can result in lower interest rates and EMIs. Higher down payments also improve loan acceptance chances as it reduces the loan’s risk. Yet do not risk your emergency fund or savings for your critical financial objectives while making higher payments. This can cause you to take out loans at higher interest rates for those objectives.

  1. Evaluate All Options

Take the interest rate, fees, lender’s history, and more, to compare the loan options before undertaking a loan. The interest rate and the related costs will vary based on the credit risk that the lenders deem fit for your profile. Many lenders, for example, offer loans to those with higher loans at lower rates. Many also award their credit rates according to their employment or their employer profile.

The easiest way of comparing interest rates and characteristics is to visit financial marketplaces online with multiple banks and HFCs providing home loans. For example, the PNB housing home loan ‘PNB Housing Finance Housing Loan Interest Rate, the new interest rates for the Nov 2020 loan of PNB Housing Finance Home is set at 7.90% p.a. Up to 30 years for full tenure.

Conclusion

A home loan is an investment that amounts to many years or even decades of repayment. The extensive EMIs and interest rates can leave relatively little space for other funding priorities. But choose a home loan that is affordable, trusted and reliable like the PNB housing home loan.

Related Posts

How Optimize Health Insurance
Finance

How To Optimize Your Health Insurance With 5 Smart Tips?

5 April 2021
Uncelebrated Car Insurance
Finance

Familiarise With These Uncelebrated Car Insurance Tips

18 March 2021
Invest in ULIP for the Long Term
Finance

Why It Is Necessary to Invest in ULIP for the Long Term

18 March 2021
Finance

What You Need To Know About Commercial Motor Insurance In India

21 December 2020
Finance

Do’s And Don’ts Of Modifying Your Bike

21 December 2020
5 Valuable Tips to Sell Gold near Me
Finance

5 Valuable Tips to Sell Gold near Me

18 December 2020
Next Post
Magento Security – The Key to Keeping Your Website Secure

Magento Security - The Key to Keeping Your Website Secure

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

hiring employee

Reference Checks are Critical During the Hiring Process—Here are 4 Reasons Why

17 April 2021
detox treatment

5 Factors to Consider When Looking For Detox Treatment

17 April 2021
women eye health

April is Women’s Eye Health and Safety Month

14 April 2021
healthcare decision

April 16th is National Healthcare Decisions Day

14 April 2021
National Healthcare Decisions Day

April 16th is National Healthcare Decisions Day

14 April 2021
Safety Tips to Protect Your Employees

5 Warehouse Safety Tips to Protect Your Employees

14 April 2021

lcarscom.net


newsnit.com is an open platform for people who loves to read and write. You can gather information or share your views in your words here. We will always be happy to provide the most recent facts, technological news etc. Happy reading!

Business

Reference Checks are Critical During the Hiring Process—Here are 4 Reasons Why

17 April 2021
hiring employee

To some employers, conducting reference checks seems like a tiresome activity, not worth their time. But do you know that...

Read more
by Sambit
0 Comments
Business

Reference Checks are Critical During the Hiring Process—Here are 4 Reasons Why

17 April 2021
Health

5 Factors to Consider When Looking For Detox Treatment

17 April 2021
Health

April is Women’s Eye Health and Safety Month

14 April 2021
  • Home
  • Contact Us
  • Privacy Policy
  • Disclaimer

NewsNit © 2021 - All Right Reserved.

No Result
View All Result
  • Home
  • Contact Us
  • News
    • Politics
    • National
    • World
  • Business
  • Opinion
  • Tech
  • Science
  • Lifestyle
    • Travel
  • Entertainment
  • Health

NewsNit © 2021 - All Right Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In