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How to Choose your Home Loan Lender? - PowerPoint PPT Presentation


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PowerPoint Slideshow about 'How to Choose your Home Loan Lender?' - RobbinKendy


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  • The foremost thing to be kept in mind is that one should never finalize a lender on the basis of interest rates.

  • Most of us choose home loan lender on the basis of interest rates, cheapest the best. But actually, there are various other things that should be kept in mind while finalizing home loans.

  • Check your home loan eligibility with various banks: Various banks have their own methods ad standards for calculating eligibility.

  • You should do some shopping to check which bank is offering you higher loan eligibility.


  • Fixed or Floating interest rate: A fixed interest rate means that you will have to pay same EMI over a period of time (it may be fixed for entire tenure or it may be reset at fixed interval).

  • Floating Interest on Housing Loan may change at any given point of time, which may result increase or decrease in either your home loan EMI or your tenure.

  • Processing fees: This fee is charged by the bank for processing the home loan and is not refundable.

  • In case you decide not to take the loan from the bank, then the entire amount you have paid towards processing fees is lost.


  • Prepayment fees Prepayment fees come in to picture in case one wants to prepay his home loan from various sources.

  • It may be from his personal savings or if he is planning to switch the loan to a different lender.

  • Few of the banks offer no prepayment charges in case the prepayment is done from own sources.

  • But in case the person is shifting the loan to a different lender then most of the banks ask to pay a fee in the range of 1% to 2% of the outstanding loan amount.

  • [Source: http://www.apnapaisa.com/how-to-choose-your-home-loan-lender/]


Click to know more on one wants to prepay his home loan from various sources. Interest on Housing Loan:

http://www.hdfc.com/housing-loans/home-loans/for-new-homes-salaried

Thank You…


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