One of the most important aspects in homebuying is selecting the right kind of home loan. The rate of interest and the tenure has a direct bearing on your finances and also dictates your future lifestyle.
Fixed and Floating Interest Loans
There are essentially two types of loans - fixed and floating interest loans. The choice between a fixed and a floating rate loan not only affects the monthly payments, but also the total interest paid over the entire tenure of the loan. While lenders and advisors promote one option over the other depending on the market conditions, the better choice is highly subjective.