A home loan is probably the biggest loan a person has to pay off. Not only in terms of loan amount, but also in terms of loan term, which can be 15 years or more. The final total amount a payer can pay can be double the amount borrowed. But a home loan is one of the cheapest loans available, and often it’s the only way a person can buy a home. A home loan is called a ‘good’ loan because it helps you acquire a tangible asset that can appreciate in the long run. It makes sense to buy a house if you plan to live in it. This is also why, apart from many housing projects in India continuing to be delayed for many years, why financial advisors say one should buy a ready-to-go home. Below are the lowest home loan interest rates of some of the top banks.
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