Generally only 2 home loans are allowed under normal
home Loan interest.
If a customer avails a 3rd home Loan, as per the
prevailing rules, Banks charge interest above the normal Rate of Interest.
Several Banks charge O.5% extra over the normal rate of interest.
It varies from Bank to bank and among financial
institutions. It is better to take up with 2 to 3 banks & after comparison
of interest rates, the customer may choose a bank / financial institution to
avail the 3rd home loan.
It is better for the customer to reveal the fact
that he / she has already availed 2 home loans under normal rate of interest.
There is no exemption for Non-Resident Indians (NRIs) in respect of rate of
interest for home loans.
No comments:
Post a Comment