All of us dream of a home which we can call our very own. In order to fulfill this loan, a lot of money is required. As a common man in India, having so much liquid cash is almost not possible. Hence we opt for home loan. With the home loan amount, one can buy a house of their choice. All they have to do is repay the loan amount via a set of fixed monthly EMI’s for a tenure pre decided. But how can you decide which home loan is the best? OR in simple words, which bank can help you get your dream home at the lowest rates?
The answer to these questions can be found via 2 options;
Lowest Interest Rates – The best way to find out which bank home loan is good for you is by searching banks that offer the lowest interest rates. If you get lowest interest rates that mean you will have to pay lower EMI’s.
Below mentioned is the list of banks from where you can apply for a home loan;
Major benefits – Another way of getting the best bank for a home loan is when the bank is not only offering lower interest rates but also many other benefits like;
Zero processing fees
No prepayment fees
But these too depend on certain parameters. The main one is Credit Score. If your score is high, you can get better deals as Banks prefer people who have high credit scores. This shows that you are bound to repay a loan very well without any defaulting.
Which bank home loan is best?
If you still require help in finding out the best home loan available, we at Ruloans have the best solution which you can get in 5 simple steps.
Finalize the house of your choice. We believe that you need to have a dream house in mind already before taking a home loan. Understand if the property is already available for possession or under construction.
Calculate the home loan amount. Next up is the loan amount. You might have certain savings that can be used to purchase the house and automatically reduce the loan amount.
Use the home loan calculator. There is a calculator online which can be used to determine how much monthly EMI you will end up paying. Check that out so you can evaluate if you are ready to bear this expense or no.
Visit Ruloans.com and compare interest rates. When you log in on our website and apply for a home loan, you will be provided with the list of banks that are offering home loans at different interest rates.
Choose the lender of your choice and begin with the loan application process. Having chosen the bank where you want to apply, all you need to do is provide personal, banking and property documents required to apply for the loan.