Festival offers on home loans: Avoid teaser rates that reset after months

Compare offers from various lenders on criteria like interest rates, processing charges, tenure, discounts, repayment flexibility

Last year, Rajesh Arora (name changed on request), a 40-year-old Noida-based businessman, took a loan during the festival season because the interest rate being offered appeared attractive. However, what he realised later was that the low interest rate was applicable for only a year, after which the rate moved up.

During the festival season, the demand for home loans typically rises as many families look to acquire a new house. 

This year is no different, with the market abuzz with several enticing housing loan offers.
 

According to a report by Omniscience Capital, a smallcase manager, the Indian housing finance