Lowest Home Loans Interest Rate Starting At 6.50% Offering HFC/https://mortgageloancreditcardinsuranceinvestmentoffer.in/
The Reserve Bank of India’s decision to keep the repo rate at a low of 4% for a year now has resulted in a majority of banks reducing their floating rate home loan interest rates to multi-decade lows. However, some housing finance companies (HFCs) too have reduced their home loan interest rates. Many aspiring home loan borrowers prefer HFCs, which are NBFCs specializing in home loans, over banks that could have relatively stricter norms when it comes to the borrowers’ loan eligibility criteria. HFCs are also known for hassle-free paperwork, but their loan interest rates are usually slightly higher than those offered by banks. However, aspiring borrowers must understand a major difference between bank and HFC floating grate home loans — while bank home loans are linked to an external benchmark like the repo rate, HFCs peg their home loan rates to their prime lending rate. Meaning, banks offering repo-linked home loans could be quicker in transferring rate-cut benefits to their bor...
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