Increased Home Loan Interest Rates Burden? Learn How To Counter Them

Reasons for Increase in Home Loan Interest Rates

Inflation has contributed to the rise of interest rates on Home Loans.

Tap to See How you Can Counter this increase!

1. Prepaying your Home Loan

One way is to prepay the entire Home Loan amount. This way, you can evade the increased rates in the new regime.

2. Switch your Home Loan to a Lower Rate

If you can’t pay the entire amount, look for a bank offering lower interest rates to save you bucks.

3. Extend your Tenure If Possible

You can request your bank to extend the tenure so that the burden is less on your pockets!

4. Switch to A Fixed Home Loan

Burden increases the most in the case of floating interest rates. You can go for fixed interest rates so that new interest rates do not hamper your budget.