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1. ASPECTS CONCERNING HOME LOANS

2. When you decide to take the services of
a Home Loan Financial Institution to
fulfils particular need, some parameters
have to be borne in mind at the time of
selection. It is very hard to obtain the
ideal financier in each of the
parameters. You are most likely to
make a compromise according to your
priorities.

3. Some of most significant parameters
are as follows:
• You may have to decide on the type of product the
financier has to offer, whether it is a loan product to
meet your needs, such as for buying land and so on.
• You have to see if the financier offers the tenure of
loan, you want.
• Whether the rate of interest type is the type you want,
i.e., fixed, variable, or floating rate of interest.
• It is important to know the quantum of maximum loan
amount offered by a financier so as to know whether
the financier can finance the amount you require.

4. • It is also important for you to decide the actual rate
of interest value. You should always compare the
effective interest rate after considering all upfront
fees etc. You should also consider the manner of
interest calculation i.e., monthly reducing, annual
reducing etc.
• Home Loan Financial Institutions may have some
schemes that suit customers of certain professions.
You have to check whether you fall into any of those
schemes, if so, whether the said scheme suit your
requirements.

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