Home loan

When the RBI increases key rates, banks hike the rate at which they lend to borrowers. Hence, borrowers are burdened with increased EMI or increased tenure. Choosing fixed rate home loan is excellent for those who suspect high fluctuation in near future. As the name implies, a fixed rate loan should typically mean the interest […]

The RBI has shown its displeasure in past on prepayment charges and has been advising the banks against it. The prepayment penalty for public sector banks is about 1% or less, while it can be anywhere between 1% and 3% in private banks. According to source, banks do not charge any prepayment penalty if you […]