A home loan is often the largest financial commitment you'll make. Here's how to ensure you get the best deal.
Comparing Lenders
Don't settle for the first offer. Compare rates from at least 3-4 banks and NBFCs. Even a 0.25% difference can save lakhs over the loan tenure.
Improving Your Eligibility
- Maintain a CIBIL score above 750
- Keep your debt-to-income ratio below 40%
- Show stable employment history
- Consider joint applications for higher eligibility
Current Market Rates
As of 2024, home loan rates range from 8.35% to 9.5% depending on your profile and the lender. Government employees and women borrowers often get additional concessions.