A fixed interest rate on the loan you avail is the rate that remains unchanged for the entire repayment period. It may be for the entire term or a part of it, as decided by the lender you are availing it from. A fixed rate of interest provides you with the certainty of the total repayable amount.
With Bajaj Finserv, you can avail Property Loan at competitive fixed and floating rates.
Check out the several benefits that a fixed rate of interest comes with when availing a Property Loan.
Advantages Of Fixed Interest Rates:
1. It Eliminates The Borrower’s Risk
While floating interest rates are subject to market fluctuations, fixed Loan Against Property interest rates are safer to opt for. They remain the same throughout the period as they are unaffected by market volatility and eliminates the risk of rising interest rates.
2. It Makes Financial Planning Easy
Plan your finances easily when opting for fixed Mortgage Loan interest rates as the entire repayable amount can be accurately calculated before you avail the loan.
Additional Read: Fixed or Floating Interest Rates?
3. It Benefits A Borrower During Rising Market Rates
Borrowing becomes affordable with fixed interest rates during times when market rates rise. So, once you calculate the total interest payable with a Loan Against Property EMI calculator, it remains the same even after a few years of availing the loan irrespective of any rise in market lending rates.
When availing a Loan Against Property from Bajaj Finserv, opt for fixed Property Loan interest rates to utilise these benefits.
Additional Read: What is Floating Interest Rates
You may opt for it in the following cases –
Also, check out the competitive floating rates of interest Bajaj Finserv offers on Property Loan. Check how to apply for loan with an online form once you have made the calculations as per your repayment capacity.