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Today every house is different having something unique in its own way. It is the reason why people generally prefer purchasing under construction property rather than a ready apartment so that they can customize their dream home accordingly. Also, an under-construction property is priced usually 20% lower than the price of a constructed building. An under-construction property coupled with the home loan makes the investment genuinely affordable. But since it involves huge investment so an individual should be very prominent before investing. There are few basic things which need to be taken care before making such investment are like verification of the builder. Builder’s commencement certificate defines that the builder is authentic in construction and is not engaged in any legal concern. Also, as the builders always charge high rate so there is always an option of negotiation available which thus helps you to cut down your loan amount and always prefer a wise lender who can he

The Home Loan EMI calculator is a calculator which helps you to determine and know the amount of EMIs you need to pay every month to your lender. By making use of home loan EMI Calculator, you can accordingly plan how much loan amount you need to borrow initially. It is important to use the online home loan EMI calculator, as once you know the amount you need to pay back it gets easier for you to repay your loan amount. A home loan EMI calculator helps you find out the loan amount that you are eligible for. Before applying for a home loan, you may check and compare your home loan EMI by using home loan EMI calculator to calculate your loan EMI in a few simple steps. Using the calculator is pretty simple- The applicant who wishes to apply for a home loan may check his/her EMI eligibility putting in a few details like enter the home loan that you require to meet your financial requirement, the rate of interest, and loan tenure in years. The home loan EMI calculator will then tel

The three rates namely, MCLR Rate, Base Rate and BPLR Rate are immensely used by both private and public sector to fix the pricing of their loans. But recently the government has brought some changes related to this. Home loan borrowers have to switch from base rate to MCLR rate from April 2016 since the introduction of MCLR rates that brings transparency in loan pricing and processing. These home loan interest rates are fixed by the government to help banks and NBFCs to set their loan prices. These rates are used as benchmark rates for the lenders below which they cannot lend any loan to the prospective buyers. These rates give a clear indication that no banks can lend below this rate. In short, these set rates are a clear cap on lending. Among the three rates, the Benchmark Prime Lending rate allows creditworthy customers an opportunity to avail loans at lower rate of interest. If you are a customer who is looking to avail at these rates, you need to talk to your bank online or

Before you hunt on to find the most suitable home loan for yourself to finance your purchase of a dream house. Make sure that you find the right lender and carefully check all the clauses mentioned in your home loan agreement before signing a final document. check your eligibility of home loan . We might feel frustrated while signing a number of pages in the home loan document, but not checking the important clauses will cost you more than your loan. Actually, a home loan agreement is a booklet that contains many number of pages and full of technical jargon and terms that one may find it difficult to apprehend. Though a great number of home loan borrowers overlook the clauses of the loan document, it is indeed very important to understand it well to save you a cost in the long run. Whenever you sign a home loan agreement, you agree to abide by the rules and regulations pre-determined by the lender itself. RELATED:- IMPORTANT CLAUSES OF HOME LOAN THAT YOU SHOULD KNOW Although, it is of

A home loan has a lengthy process and contains numerous conditions. That is why here we assess five major points in the home loan with low interest rate process of public and private banks. a) Interest rate Updation: Private banks are slow to move their interest rate even for existing customers as per the changes in repo rate by RBI. Whereas, in the case of public banks with the change in repo rate interest rate for new as well as existing customers is normally moved. b) Prepayment Charges: Private banks charges an additional percentage fee on outstanding loan amount when you prepay your existing loan. Public banks do not have any prepayment charges. c) Prepayment Limit: Private banks also tend to set the limit on the amount of prepayment which can be done at one time. They would for example have. 25% of outstanding loan as a limit for one-time prepayment. Public banks do not have such conditions. d) Prepayment Period: Private banks have a lock-in of 6 months to 1 year bef