The loan market in India has been witnessing a lot of change in recent times. As per reports, post 1st October 2019, all kinds of floating-rate bank loans will clearly be linked to an external benchmark. We feel that this benchmark is the repo rate. As a layman, this means whenever the repo rate will decrease, you will end up paying a less amount toward your loan.
Isn’t that great news?
Not only that, we can already see the change in few banks. SBI recently began with the repo linked home loan that brought out the lowest home loan rate ever at 8.05% in September. This change happened and SBI was faster in responding to the price cut.
So this leaves you with the prime question:
Which Bank/NBFC should you choose?
We feel that a Bank/NBFC that is very responsive to all the rate cuts by RBI is a good and safe bet. Here you get multiple chances to save a lot of interest money. Also, there are multiple factors which will help you decide the best loan provider.
Any lender that provides you the best interest rates, lenient eligibility criteria, loan-to-value ratio, lowest processing fees, less documentation, and amazing customer service is the best bet for you.
Why choose Ruloans?
Ruloans has been helping customers all over India in getting the loan they desire at the best rates. We deal in all kinds of secured and unsecured loans. If you want to get the best home loans as per the new interest rates, you can always contact us.
We don’t charge a single penny from you for our services. All we wish is for you to get the home loan at the best interest rates where you can save a lot of money and own a house of your own!
So if a new house is what you are looking for, visit us and we will help you make your dream come true!