3 Reasons: Opt for a Fixed Interest Rate Home Loan | askHousing discusses 'Home Loans' | Housing.com

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What do you mean by a fixed interest rate home loan?

What is a Home Loan?

Do you know if your interest rates are fixed or floating?

Watch the video & read the blog below to know more about Home Loans.

1. Indifference to the volatile market conditions

Interest rates on home loans largely depend on the market conditions. For example, agar aap aaj home loan lene jayein, to regardless of the type of interest rate, aapko milenge interest rates based on the present market conditions.

Now, when you pick a fixed interest rate, aapka loan interest rate secure ho jata hai till the end of your tenure.

This means, ke market me chahe kuchh bhi ho, recession aye ya bear effect, aapke home loan par interest rate constant rahega, and EMIs fixed while floating rate may change as per market conditions.

2. Perfect for planning

Kyunki fixed interest home loans me interest rates, EMI amount, and loan tenure fixed hote hain, ye freedom deta hai aapko apne future ko apni marzi se plan karne ki.

Fir future me chahe aap apni favourite car plan karein, koi nayi investment plan karein, ya family ki koi bhi needs, with fixed interest rates, you will know how much money you’ll have by yourself.

3. Security, certainty, peace of mind

Imagine kijiye aapke home loan ka interest rate aaj thoda kam hai, but kal thoda zada hoga. And ho sakta hai agle kuch mahino me thoda kam ho, but fir thoda zada ho jaye.

Now, don’t take this wrong. Ye ek kharaab scenario nahi hai. People use floating interest rates to save tons of money on home loans, but the changing markets can evoke a sense of uncertainty and lack of security in the minds of borrowers.

Vahin, fixed interest home loans borrowers ko assurance deta hain ke unke home loan par interest rate, EMIs, and tenure pre-decided values se change nahi hoga. This financial security enables thousands of people to buy the house of their dreams,while maintaining their peace of mind.

We hope you enjoyed the interaction with Sagar Duggal & let us know what else you have in mind in the comments section.

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Link to the blogs:
1. https://housing.com/news/fixed-intere...

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