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.
Rising interest rates pull down home loan growth to 20% says Assocham
Rising interest rates pull down home loan growth to 20% says Assocham reportApnaloan.com Research Bureau
04 Sep 2007
The rising home loan rates may have an adverse
impact on the housing loan housing sector. The home loan sector's growth is
likely to fall to 20 per cent from 26.6 per cent in 2006-2007 says a report by
Associated Chambers of Commerce and Industry of India
(Assocham).
The home loan growth rate was 29.1% in 2005-2006,
and the real estate market has witnessed a 602 per cent drop in sales.
Sales have come down drastically in metros like
Delhi, Mumbai, Kolkata and Banglore.