Interest Rates (Photo credit: 401(K) 2013) |
Money Available In The Hands Of Buyers
The reduction in the basis point by the HDFC has brought down the rate of interest for home loans. This means that you have to pay almost seven or eight lakhs less in total than you would have previously paid on the same loan amount. With less money to repay, buyers are now keener to take home loan in India and buy houses.
Increased Demand For Real Estate Investment
Increased Buying of Property
The Young Crowd Is Buying Property
Property Prices Are Rising
Foreign Investment
These are the six effects of HDFC’s home loan cuts. It is time to make full use of it and benefit from it.
Whatever the reason behind the fall of HDFC Housing Loan interest rates. The fact is that it is important for HDFC to reduce it to gain the market leadership. Because of its lowest rates presently it is most preferred bank in the financial Industry.
ReplyDeleteNow is one of the times to simply a buy a home loan. The economy is looking good, the markets are at an all time high, and we have a clear mandate in the form of a stable government. In fact the main reason for the decrease in home loan interest is because people are not spending enough money. Banks want people to spend money and increase the liquidity in the market.
ReplyDeleteRarely do we get such opportunity, currently most banks including both PSU and private players are offering floating interest rate home loans at just below 11% and women and senior citizens are getting a even better deal. so if you always wanted to build, buy or get a flat, now is the right time. In fact, the offers will end by January 2015 to March 2015 going by the current trends. Later don’t repent.
The main and important parameter on which the bank decides the interest rate is his/her credit score. Your credit score gives you power to bargain and save money on the interest rates you going to pay. To know how it is linked to each other you can also visit http://freescoreindia.com/articles/how-credit-scores-will-affect-loan-interest-rates.html
ReplyDeleteThe home loan rate of interest has a significant impact on your EMI. Hence, analyse the loan amount and the interest rate on it to choose the one that suits your capacity. You can compare rate of interest on home loans online on web portals of lending institutes. It is a smart way to assess and manage your finances.
ReplyDeleteGreat information shared. Visit Finbucket to gain complete knowledge on Home Loan portal.
ReplyDelete