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5 Ways To Tackle The High Home Loan Rates In India

Loan repayments - Move your Home Loan outstanding balances to HDFC, enjoy the savings for the other things in life that really matter to you and your family.<br>

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5 Ways To Tackle The High Home Loan Rates In India

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  1. Home Loan Balance Transfer

  2. 5 Ways To Tackle The High Home Loan Rates In India

  3. There is a constant speculation in the market on whether the interest rates will climb further, remain stagnant or decrease over a period of time. • But, the harsh reality is that the recent rise in home loan rates has driven the budget of almost 3 million households, out of gear. • The EMI's have risen significantly and with a monthly salary unable to keep pace with the growing expenditure, people are stretching too far to make the ends meet. • If you also a part of the populace left gasping with this sudden unexpected rise in home loan interest rates, here are a few tips to lower its impact and successfully manage your home loan in these testing times.

  4. Shifting from a floating to fixed interest rate on your home loan balance transfer • Those who are bothered, whether the currently prevailing floating rates on home loans, will exceed the fixed rate (currently around 13%-14%) can try to convert their floating rate home loan into a fixed rate one. • Though the fixed rate are rarely 'truly fixed' but the banks generally lock them for a fixed period of around 3 years. • Before taking any such measure it will be beneficial to get all the facts about the fixed rates and their period.

  5. Switch to another lender which offers better rates In this fast increasing interest rates regime, there are banks and housing finance companies (HFC's) which, are absorbing the shock and keeping the interest rate burden to themselves. • It is judicious to compare the currently prevailing interest rates of all such banks and HFC's. If you find one such entity, which offers a cheaper interest rate of 0.50% or more and offers balance transfers, consider it seriously. • [Source: http://ezinearticles.com/?5-Ways-To-Tackle-The-High-Home-Loan-Rates-In-India&id=821356]

  6. Click to know more on Home Loan Balance Transfer:https://www.hdfc.com/housing-loans/home-loans/for-balance-transfer-salaried Thank You…

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