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Sindhu suramani

Sindhu suramani

Civil Engineer | Ernakulam, Kerala

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Will interest rate change during home loan tenure? Your interest rate depends on the type of loan you choose. There are two types of loans: Adjustable Rate or Floating Rate In an adjustable or floating rate loan, the interest rate on your loan is linked to your lender’s benchmark rate. Any movement in the benchmark rate will effectuate a proportionate change in your applicable interest rate. The interest rates are reset at defined intervals. The reset can be according to the financial calendar, or they can be unique to each customer, depending on the first date of disbursement. Combination Loans A combination loan is part fixed and part floating. Post the fixed rate tenure, the loan switches to an adjustable rate. #mobile #WhatsAppNo 7510385499 #Email loan@homeloanadvisor.in #website www.homeloanadvisor.in
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