Home Loans safest way to overcome rising Interest Rates
No Comments Sub Category:Realty News,Uncategorized Posted On: Sep 21, 2011
Reserve Bank of India (RBI) has hiked the interest rates nearly 12 times for over a period of 18 months wherein all the loan borrowers are being burdened. Satish Kumar, national credit manager, mortgages, at ICICI Bank reported saying, a well planned budget for the payment of regular pre-payment charges is the best way to manage floating loan rate and also to keep a check over monthly payments.
The loan borrowers are in state of dilemma over the issue of their EMI payment charges when the cost amplifications are changing constantly. Mr. Kumar also suggested that, the home loan borrowers should better start saving the income in case of hike rather than getting burdened from the everyday increasing EMI. He also suggested the people to get their own property check done as frequently as possible. This workshop was aimed to educate the loan borrowers as to how they can manage over the prevailing fluctuations in the Home loan interest rates .
Source: Personal Finance Magazine
