I’m looking for a home loan amount of 30Lac with tenure of 15yrs.
As of now, I have the following two options:
Axis 11.75% FIXED vs HDFC 10.75% FLOATING
Why Axis?
1. It has the cheapest interest in the market in the FIXED category?
2. We can do registration for the market value(20Lac) than the purchased value(38Lac). Hence we can save 1.5Lac during the registration time.
Kindly advise me whether I should go for fixed or floating?
With RBI cutting CRR, should I think that home loans might become cheaper in the near future and it dones n’t make sense to pay more amount form now itself!!
or
Should I see that 11.75 will be fixed for the tenure of 15years? Say, after 10 years even if the interest rates shoot up to 15%, I might be paying at 11.75% only.
Kindly clear the dilemma I’m in now.
Also, Please do let me know if there is a better option.
Thank you