Home loan is a heavy sum of money borrowed from a financial institution such as the banks and NBFCs. It is by far one of the best investments when you consider for resale. It is only wise to pay a financial institution than paying the land lords, the apartment cost.

Home loan consists of two types of interest rates named as fixed and floating interest rates. As per the chosen interest rate, consumer repays the loan in form of EMIs for the desired tenure. The ownership of a house is one of the key signs of success among the fast-growing Indian middle class.

Over the decades, the prices of the property have sky rocketed and now that the population has a consistent growth, it could be extremely difficult to settle in a home you desire. To have a convenience that is suitable for your lifestyle, career and savings either in big cities or if you scale down to a smaller one, the fact yet remains the same.

This significant gap between the income and the desire to own a house is among the prominent reasons behind the unmatched growth in home loan business in recent years. The effect has been so much so that prospective home buyers now have multiple options to seek.