Are fixed home loans really fixed ?
Before you go in for any kind of home loan, read the fine prints of the HFC's
Most of the HFC peg their Fixed Home Loan Interest Rate to their Prime Lending Rate and have provisons of changing the Interest Rate of the fixed home loan if the PLR variates beyond a defined range.
SO be aware that your fixed rate home loan may not be so fixed after all
And in this regime of increasing interest rates, ,many HFC's have stopped giving new Fixed Home Loan rates across the counter and will not encourage prospective customers to opt for such loans
Ram
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