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Prioritise long-term savings; avoid teaser rates
Business Standard
|September 27, 2025
With Navaratri - considered an auspicious time for buying property - having begun, banks and housing finance companies (HFCs) have rolled out special festival offers on home loans.
Borrowers, however, should weigh these carefully before committing.
What's on offer
Banks and HFCs have rolled out a range of festival offers. "These include reduced interest rates, discounted or waived processing fees, longer repayment tenures, and easy topup loan options," said Ratan Chaudhary, head of home loans at Paisabazaar. Some lenders have also cut legal and valuation charges. While the schemes primarily target new borrowers, existing customers can also benefit through balance transfers.
What to prioritise
Borrowers should prioritise offers that translate into direct savings. "Focus on benefits that cut long-term costs, such as lower interest rates and waived processing fees," says Atul Monga, chief executive officer (CEO) and cofounder of BASIC Home Loan.
Prioritise reduction in interest rate, a recurring benefit, over a waiver in processing fee, which is a onetime gain.
This story is from the September 27, 2025 edition of Business Standard.
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