Home Loan Interest Rates: What You Need to Know Before Applying

• Understanding home loan interest rates is crucial as they directly impact your EMI and the total repayment amount.
• Interest rates in India are typically fixed (unchanged until revised) or floating (linked to market conditions).
• Some loans, like Bajaj Housing Finance's Dual Interest Rate Home Loans, offer an initial fixed rate followed by a floating rate.
• Using a home loan EMI calculator helps estimate monthly payments and compare different loan scenarios.
• A strong credit score (CIBIL score) can significantly improve your chances of securing a lower interest rate.

Why It Matters: Understanding home loan interest rates, using an EMI calculator, and maintaining a good credit score are vital.