For instance, the home loan interest for the tenure of 20 years is higher than that for 15 years. If you are looking for the cheapest home loan rates, check here on the IDFC FIRST Bank website.
Home loans with a longer tenure have a higher interest rate than those with a shorter term. You can use IDFC FIRST Bank’s mortgage EMI calculator to know the best tenure for your home loan.
Precise location of the Possessions
The property situated in a primary lay using the very first services has actually a high selling worth than the one out of the brand new outskirts of city. For this reason, banking institutions give financing towards the property, with high selling worthy of, during the a lesser interest rate, and also for the lower selling really worth it fees high rate of interest.
Character of your applicant
One bank or standard bank considers applicants’ employment cover before sanctioning their property financing request. Read more