Page 4 - Home Loan Rates

Have a low credit score? Pledge your fixed deposit as security against loan

The benefit of a loan against FD is that it has a lower interest rate

Want to avail of home-loan overdraft? Do it only if you have surplus funds

Savings done by depositing extra money into the home loan overdraft facility should outweigh the higher interest cost charged from you

Planning to take loan against property? Go for overdraft option to cut cost

Interest has to be paid only on the amount used

New home loan rate regime: Shift, if you are getting a much better deal

Just remember, that better transmission will also mean faster increase in home loan rates in a rising interest rate scenario

Floating rate borrowers need easy portability

The external benchmark may not lead to fair pricing as banks can always cut the spread for new customers. But your spread can't change

Different loan benchmarks present a tough choice for home buyers

Banks have 6-month and one-year MCLR; one should choose based on interest rate outlook

GRAPHIC: Make the most of current home loan rates

Shop around and weigh the pros and cons of various offers before deciding on a lender