User:Anamikavverma/sandbox

Home loan intrest rate are are basically have two types- Fixed interest rate and Variable interest rate. Usually, fixed interest rate home loan is taken by people who want a steady instalments amount. But if you have problems with paying the same principal amount every month, you should opt for variable rate home loans as your instalments will be flexible in nature. So if you are planning to buy a home in the near future, your first step should be to identify what you can comfortably afford.Then you will have to figure out that how much of your income you can commit to a monthly instalment and If you talk about the interest rates. They will depend on your credit history and the state of the property market in your area. If a lender finds that you have sub-par credit score, they may consider increasing the interest rate on offers just because of their primary requirement is to cover their principal as soon as possible.

Fixed Home Loan Interest Rate: Fixed rate home loans help the customer budget their money better and take long term decisions without worrying about the interest rate fluctuations. The customer can rest assured that the monthly repayment is not going to fluctuate based on market conditions and they can get a fair idea of what their monthly home loan repayments will be towards the end of the loan tenure.As like Hdfc Will charge fixed intrest rates between 7.40% pa to 8.20% pa while Axis bank charge 12% pa..

Variable Home Loan Interest Rate: A variable interest rate loan is an excellent option if you're confident that interest rates will remain relatively low in the coming years. However, if you believe interest rates will increase, a fixed interest rate loan may be a better choice. The intrest rates are depends on a floating benchmark used to determine the cost of loans. Variable interest rate loans are historically riskier than fixed-rate loans, that why Fixed-rate loans carry a higher interest rate.

You don't have to woory about your monthly installments you can plan or choose them according to your needs. There are several calculator avilable in market by using them you can easily calulate your monthly emi or intrest rate which you will gonna to pay. Simply you have to choose the Type of loan which you are desired than insert the value of intrest rate and the tenure, those calculators will simply give you the value of your monthly EMI.