Why Indiabulls Housing Finance Interest Rate is the best option for you to have?

Why Indiabulls Housing Finance Interest Rate is the best option for you to have?

Home Loan is the best possible option for those individuals who can not afford a huge sum of money at once to buy their dream home. There are various banks and housing finance companies that provide the housing loan facility with flexible repayment options. One such company is the Indiabulls Housing Finance that provides a wide range of banking products related to housing. The most important thing to look before opting for a loan is the interest rate and the ​Indiabulls Housing Finance Interest rate​ is the most affordable option for you to choose.

You must be thinking about why Interest rate has been such an important aspect while applying for a personal loan? Well, because home loans are generally for long durations and even a percentage difference can cost huge money to you. So it’s important to keep an eye on the interest rate. If you’re looking to opt for a housing loan at an affordable interest rate, then I​ ndiabulls Home loan​ can do wonders to you because of the affordable Indiabulls housing finance interest rate. In this article, we will be telling you everything about this loan facility so that you reach a stage to take a better decision.

Features of Indiabulls Housing Loan Facility:

● Indiabulls Housing Finance interest rate ranges from 8.80% to 12% per annum. ● You must also consider the fact that the final rate of interest will depend on a lot of factors such as your age, property type, nature of employment, job or business history, monthly income, existing obligations, and most importantly on your CIBIL score. ● On having a good credit score - 700 or above - you can get a lower interest rate. ● The repayment period can be as maximum as 30 years but it can be extended only till 65 years of age or your retirement age whichever is earlier. ● Your immovable property for which you’re taking the loan will act as collateral against your loan. ● You can make your spouse and blood relatives as the co-applicants on your h ​ ome loan​ but they must be the co-owner of the home. ● You will have to pay upto 2% of the loan amount as the processing fee for your loan amount. ● Absolutely no prepayment fee will be charged in case you want to pay the full loan amount before the due date.

Do you know the difference between a Fixed and Floating Interest Rate?

When you choose to opt for a home loan, you have two kinds of interest rates to choose from - Fixed and Floating. But do you know the basic difference between them? Don’t worry if you don’t know it. If you want to pay a higher rate of interest (1 to 2.5% per annum more) but fixed during your loan period, then you should opt for the Fixed Rate of interest. The interest rate tends to change according to prevailing RBI rates when you opt for the floating Indiabulls housing finance interest rate. It may be possible that when you opt for the fixed ROI, it may be fixed for a few initial years and then it may convert into a floating rate. So you need to keep a close eye on it!