Have you have recently moved to a new city with plans of settling there or even purchasing a property for investment purposes? Here I am listing how you can find the perfect Home Loan in any city by taking the example of Chennai and Pune.
The type of Home Loan that you're eligible for also depends on the city that you are living in. This is mainly due to factors like the price of real estate as well as the overall economy of different cities. Keeping these basic factors in mind you can decide what kind of loan will be best for you. Let's take a look at how Home Loans differ in Chennai and Pune.
Home Loan in Chennai
The best way to determine the kind of Home Loan that would be suitable for you would be to make use of online EMI calculators as well as comparison tables made available by various financial institutions. Banks provide you with different floating and fixed interest rates and the comparison can make it easy for you to understand how easy or difficult it would be to avail a Home Loan in Chennai.
For example, some banks currently offer a floating interest rate of 9.35%, with a processing fee of 0 to 0.5%, on a loan amount that would range from Rs.15,00,000 to Rs.10,00,00,000. They offer this loan for a maximum period of 30 years. You can compare these values with that of other banks which offer loan at an interest rate of 9.40%, with a one-time processing fee and a lower base range of Rs.2,00,000, that can go up to Rs.30,00,00,000 with special benefits for women applicants.
These are values sourced from various banks and financial institutions in Chennai. By making use of an online tool, you can compare and determine what kind of Home Loan you can apply for, if you are in Chennai.
Know about Tax Benefits on your Home Loan
Home Loan in Pune
Pune has a developing economy with a lot of IT companies based there. This makes it a hub for migrating professionals. This affects the property rates and therefore, like Chennai, you can get Home Loans being offered at extremely competitive rates. Adopting the same comparative analysis like we did for Chennai, you can easily find suitable Home Loans in Pune. With banks providing calculators on their websites itself, it becomes easier to find your ideal Home Loan without having to go through the hassle of visiting their branches physically.
If you make use of the tools available online to determine the type of loan, EMI rates, and the tenure, you can easily find suitable Home Loans in any city that you are in.
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