- Home loans are at the lowest rates ever.
- This is the right time one needs to take advantage of a home loan interest rate reduction.
So, here’s everything you need to know about home loan benefits at lowered interest rates.
Everything around us is gradually opening up and we all are trying to get back to normal with necessary precautions. The Coronavirus led pandemic made Indian financial institutes to lower their home loan interest rates of record-breaking 15 years!
At a time when the economy is still trying to hit the mark and homebuyers are prioritizing job security, finance institutes in India – both public and private are worried about the consumer sentiments.
Both the attractive home loan interest rate reduction and stable property prices are attracting buyers to invest in properties, especially luxury homes (as investments).
Although everyone is discussing record low-interest rates, a new homebuyer needs to know the aspects of getting the most out of low home loan interest rates and thus we have tried to talk about these aspects with this article.
Are lower home loan interest rates available for all homebuyers?
Slashed home loan interest rates are introduced for new customers. In simple words, they are trying to sell a new product to new and fresh customers when there is stiff competition. This doesn’t mean that current customers of the banks cannot be benefitted from the new and lowered interest rates. Existing customers can easily avail of home loan benefits with low-interest rates too but there is a slightly different way for them.