To Do-list for Availing Home Loan at Lowest Interest Rates

Home loans are unsecured debts that come with a lower rate of interest. 

Still, since it is a long-term obligation, many people pay extra interest charges. 

But it is possible to opt for a lowest home loan interest rate after following a few handy tips. Read on!

Here’s how you can enjoy lower home loan interest rates

1. Begin with a higher down payment

The first thing you can do to lower your home loan interest rates is by putting down a higher down payment. You will have to arrange at least 15-20% of your home value as the down payment. No lender approves a full amount. The moment you put a bigger down payment, you end up borrowing less. In turn, it helps you bring down your home loan interest rate charges as well. 

2. Opt for a shorter tenor 

Even though housing loans come with a longer tenor, it means you paying more as interest charges. You can save on interest charges by opting for a smaller tenor. Yes, your home loan EMI amount may increase if you do that. But you will be able to pocket savings on home loan interest rates. 

3. Go for a home loan balance transfer

If you are still unable to bring down your home loan interest rate charges, you can go for a home loan balance transfer. The facility helps you transfer your home loan account from an existing lender to one offering a reduced rate. If the charges of making the switch is higher are than your savings, you should not do it. Many lenders let you avail of a higher top up loan when you switch your home loan accounts to them. The rate of interest and the loan tenor may also be almost similar or a bit more than home loans. 

If you can follow these discussed tips, availing of a reduced home loan interest rate and enjoying savings on repayments may be so easy. 

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For Maximum ROI Which is Better Option – Rent or Buy a Home

Are you relocating to a new place in search of a better career option? It is necessary to have a home to live. There are two options – buy a home or rent. When you think to buy a home, you block a lot of money on a self-owned home and in case of rent, you play a major part in your income for a long period and overall reduce your savings.

In general, paying rent for the Prestige Misty Waters is much higher than you buy the property for the long-term. It is best to analyze and compare these options and know which one is better as per individual needs for maximum return on investment.

Home loan vs rent

A home loan is always higher than the rent paid. This saves you money that can be invested to get a decent ROI.

Cumulative cost comparison

When you buy or rent a home you need to incur several costs. When compared for the long term and appreciation of the property, most of the time buying a property is a better option. On the other hand, if you wish to stay at a pace for the short term, then renting is a better option.

Return on rent vs house ownership

The EMI you pay for the home loan is definitely higher than the rent you pay. However, payment made on a home loan is considered as an investment and provides a healthy return on investment but there is no return from the rent you pay.

Bajaj Housing Finance provides the best home loan at lowest home loan interest rate to buy a property in Prestige Misty Waters and pay the feasible home loan in EMI to enjoy maximum return on investment in the future.

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Investing in One of the Best Real Estate Projects in Mumbai

Real-estate prices in Mumbai have always been high and as such has proved to be more of an impediment for those who wish to invest in real-estate in the city. This is why many individuals have now started checking out homes in the suburbs. Here too there are a number of options but one that has particularly stood out is Palava City.

 

Palava City

 

As the very name suggests, Palava City is a full-fledged city in itself which has been made by the Lodha Group who have been credited for making some of the most beautiful projects in the city.

There are a number of townships in this area which have not only been built by some of the most reputed developers but what truly sets them apart is the fact that they are also Vastu compliant. Some of the other benefits of investing in the residential project are as follows -

 

# Location

 

Palava City is very conveniently located as it enjoys great connectivity with other areas such as Navi Mumbai, Kalyan and Thane as it is located on the Kalyan-Shil Road. Moreover, it is just an hour’s drive from South Mumbai and a mere 20 minutes away from the upcoming Navi Mumbai International Airport. Some of the nearby railway stations include Vashi, Niljem and Dombivali to name a few.

 

# Spacious Apartments

 

Once the locality and the amenities have been established to be good, the final consideration which remains is how the dimensions of the project are like. Different people have different needs and in order to cater to the needs of various groups of people, Lodha Palava has apartments ranging from 729 sq.ft to 1314 sq.ft. There are also independent villas and twin flats to choose from.

To finance your home, you can get a home loan at lowest home loan interest rate from the Bajaj Housing Finance which is the India's most trusted housing company.

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