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Finance > Insurance > Home InsuranceA Brief Outline on the Home Loans Sector in India
Posted by sharibmirza333 in Finance on July 20th Customized Philadelphia Eagles Jerseys , 2016


Mr. P.S Sharma had always dreamt of owning his own house in the ultra modern locality of South Delhi. But like most of us, he was unaware of the basics of a Home Loan. He did some research in prevailing situation and came up with some interesting insights.


Undoubtedly, owning a home is the biggest dream of an average family and therefore, it goes beyond monetary consideration. In the current scenario Cheap Philadelphia Eagles Jerseys , it has gained huge demand, which in turns has aroused cut throat competition between public and private players.


A Quick look at Home Loan Providers in India


There are 2 types of lenders currently existing in the market-


(1) Banks = Like ICICI Bank, State Bank of India, Punjab National Bank and many more.


(2) Housing Finance Companies = Like LIC Housing Finance Wendell Smallwood Eagles Jersey , Dewan Housing Finance, Dewan Housing Finance and many more.


Different types of Home Loan rates


Fixed Home Loan rates- As the name itself suggests, it remains same or fixed throughout the loan tenure, irrespective of the changing loan market conditions. Such home loans are comparatively more costly and are therefore offered by only some lenders in the financial marketplace.


Resettable Fixed Rates- Almost all Fixed Rates available in the market are of this kind. Under this Josh Sweat Eagles Jersey , interest rate is fixed for some period of time, says 2 or 5 years and is then reset again for other 2 or 5 years and so on.


Floating Rate: As the name itself connotes, floating rate is changeable with respect to the rates prevailing in the market. Usually banks are free to decide their own methodology for fixing their base rate. India's apex bank, Reserve Bank of India (RBI) is free to review this at any point of time.


Some lesser known facts