Home Loans help in realizing your dream of owning a home of your choice, in your desired location, which was otherwise not possible.
You can apply for a Home Loan online instead of visiting the financial institution to save on time and effort.
Home Loans are quite popular among borrowers due to their convenience and usefulness. The primary consideration before applying for a Home Loan is the rate of interest charged. Some lenders charge a higher rate of interest while some charge a lower rate based on the amount borrowed and the loan tenure.
Calculating EMIs on Home Loans is quite complex- larger principal with a longer tenure lead to smaller installments and shorter tenures lead to larger installments.
Online EMI calculators on the lenders’ websites are useful in accurately estimating payable EMI using the amount borrowed and Home Loan tenure. As different lenders charge different interest rates, EMI calculations on different websites will yield different answers.
Before applying for a Home Loan, you should check the website, eligibility criteria and reviews of the lender. Doing so gives you an idea about the reliability of the lender, the interest rates, processing of Home Loan applications and the loan schemes offered.
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Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.