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.
Housing loans from GE-Wizard JV at 9.99 per cent
Housing loans from GE-Wizard JV at 9.99 per centApnaloan.com Research Bureau
20 Sep 2007
US-based financial services provider GE Money and Australian mortgage player Wizard has announced a joint venture Wizard Home Loans that will offer 9.99 per cent apnaloan.com/home-loan-india/rates.html">floating interest rate on home loans.
T P Chopra, CEO, GE India said that the JV will invest 200 million dollars in equity in India which will in turn offer an aggressive interest rate of 9.99 per cent to consumers. Wizard plans to offer its products through GE Money\'s Indian arm initially, and has applied to the regulator for its own operating licence.
The JV will also see the launch of more than 250 branches in India by 2011. Currently, the interest rates on home loans range between 11 to 12 per cent for various tenures. The domestic home loans segment has been growing at a compounded annual growth rate of 30 per cent since 2001.
The home loans will be offered through franchisees that would be paid an upfront fee and a monthly commission as long as the loan remains on the company books. Wizard will also provide loans against property to help consumers in expanding their businesses of other financial needs.