Benefits of Applying Online
When Banks Compete, you win.
Apply for a Home Loan at ApnaPaisa and we will match your requirements with the best offers from our network of over 400 service providers. We will get a maximum of five providers to compete for your business. WHEN BANKS COMPETE YOU WIN. You can then decide which home loan is best for you based on:
- Lowest Interest Rate
- Lowest EMI
- No Pre-payment charges
- Lowest Processing Fees
- Maximum Eligible Loan Amount
- Mandatory Documents Required
- Lowest Processing Fees
Or any other factor that is important to you.
Negotiating Tips
1) If you have a good credit record and your income is sufficient to justify the loan you can negotiate on interest rates. You can also try and get Processing fees or legal or valuation fees reduced or completely waived.
2) If you go for a floating rate loan then pre-payment charges are not payable.
3) When interest rates are high and are expected to go down you should go in for a floating rate loan as it makes no sense to lock into high fixed rates or the so called Dual rate loans where rates remain fixed for a couple of years before shifting to regular floating rate loans. Please review this decision at least once every 6 months
4) Take term insurance and critical illness and accidental disability policy for the full loan amount to make sure you or your loved ones don't have to worry about loan repayment should you die or are disabled due to a critical illness or accident. You cannot be forced to buy this policy from the insurance company chosen by the lender - you should choose your own insurer.
Bankers fear loss in business despite demand for home loans
Bankers are wary of the rising interest rates and fear that they will lose business in spite of the demand for housing loans, and rising ratio of non-performing assets (NPA). The concerns are the high interest rates on housing finance and realty prices.Apnaloan.com Research Bureau
14 Sep 2007
Bankers are wary of the rising apnaloan.com/home-loan-india/rates.html" id="tyuq" target="_blank" title="\"Click" here="" to="" get="" the="" best="" interest="" rates="" on="" home="" loans\="">interest rates and fear that they will lose business in spite of the demand for housing loans, and rising ratio of non-performing assets (NPA).
The concerns are high interest rates on housing finance and rising realty prices. Reportedly, property prices have risen by 300 per cent in North India since 2001-02, 150 per cent in the West. This hike has impacted 22 to 23 per cent consumers.
Interest rates have risen by 4 to 4.5 per cent since 2004 which has led to a slowdown in demand for houses.