Fixed and Floating Interest Rates on Loan Against Property
The main concern of every loan seeker is that, if we take Loan against Property-for how long we will be able to repay installments on the same interest rates i.e same installment amount every month or quarter?
Now the difference prevails between Fixed and Floating Interest rates Mortgage Loan. Fixed Interest rate loan, as the name suggests has same interest rate at the time of loan disbursal throughout the loan tenure. Mortgage-loan.in provides fixed interest rate Property Mortgage Loan for almost 5-10 years depending on the requirements.
Most of the Public Banks such as SBI, Canara Bank,Bank of Maharashtra, Bank of Baroda generally funds fixed interest rates Mortgage Loan, but going through traditional methods, it may take up to 3-4 months to get the loan approved. Apply online for Mortgage Loan and get our loan services from these banks approved within 10-15 working days.
On the contrary, interest rates has one more variant also, the floating interest rate Mortgage Loan. in this type. whenever there is an amendment in RBI regarding interest rates, accordingly banks increases or decreases the rate of interest and accordingly the EMI is changed for the customer. This types of loans are generally funded extensively by Private financing companies and Micro Finance organizations.
Customers, while taking Loan against Property does not pay attention to these little things which are written in the application form and often end up paying more money than they ought to. We, at Mortgage-loan.in are giving out dedicated and undivided attention to our Pune customers for their Property Loan requirements.