Please advise the mode of payments, can you help out regarding housing loan

Q: We would prefer to make some initial down payment and then pay in instalments or pay up the complete amount at the time of possession. 2015 or 2016 would be ideal to pay off the final instalment.

Mrs Perviz Bharucha,

12th February 2014

Home Loan in Lodha Lakeshore Greens, Dombivli East, Mumbai

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Hi,
If you are going for long term, then I suggest you that you opt for fixed home loan since the rate of interest will be fixed and constant throughout till the last repayment is done. On other hand if you go for floating method, then there are chances that rate of interest could vary from time to time. There are chances that interest rate might go up or may come down. It depends on the market factors. It is upto you to take the decision and decide which process you should go for. You can also approach the bank and get to know all about the rates of interest from the bank from where you will taking loan. Banks can give you best suitable suggestions regarding home loans.

Lalit Verma, Mumbai

13th February 2014

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Namaste Shrimatiji,

What is the price of the flat you have bought for and what is the loan amount that you have taken. What is the period of repayment in terms of years. You can initially pay some amount as down payment and the rest in EMI.

Rakshit, Mumbai

13th February 2014

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Hi, Greetings to all.
Regarding the housing loan you can either go for fixed or floating method. Many leading banks and financial institutions are providing home loans which require some formalities to be completed. Once you are done with the formalities, you are eligible for housing loans.

Bikram, Mumbai

13th February 2014