Home loan interest rates are gradually increasing. How to cope up with it?

Q: The Reserve Bank of India (RBI) has increased the interest rates which has become a headache for home loan borrowers/seekers. Is there any way to cope with the rise of interest rates?

saurabh.shukla3041,

19th October 2011

Home Loan in Ahmedabad

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home loan interest rates

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In recent past, the Reserve Bank of India (RBI) has increased the interest rates which is about about 14 times. Yes, the EMI rise has put many loan borrowers into dilemma. But, there's nothing to panic as you can choose some easy tricks to cope with the increasing interest rates. You can either increase the tenure of your loan or increase the EMI, so that you can easily repay the loan amount. By increasing the EMI of the loan, you can reduce the tenure if you are paying it regularly. Even the home loan can be insured which will reduce the burden during death of the loan borrower.