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By TARUN GUPTA 966 views

Find the Bank for Home Loan While Buying GKRS PALACIO in Hyderabad?

These days it is easy to find lenders such as banks and financial institutions for home loans. The tricky part is to find the right bank that disburses your loan keeping in mind your financial status, tenure, home loan rate, and other factors.

If you are planning to buy an excellent property such as GKRS PALACIO in Hyderabad. Read more to know how this article can help you in finding the best bank for your home loan needs.

How to choose the best bank for your home loan?

1. EMI Holiday Period

You may want to check on the ‘EMI holiday period’. This is the duration when you don’t pay any interest on your home loan. It is crucial to look into this point because, during this period, you don’t have to pay your home loan interest in addition to your rent. As soon as this period ends, you will have to start paying your interest plus principal.

2. Sanctioning Time

This refers to the time taken for a lender to approve your home loan. While there are many apartments for sale in Hyderabad at any given moment, not all of them may be available every time. Your preferred apartment may slip from your hands if your bank takes a lot of time to sanction the loan. Ask your bank to sanction your loan quickly so that your apartment does not slip out of your hands.

3. Sanctioning Versus Disbursal

An approved loan means a bank has okayed your loan application. This doesn’t mean that your bank has paid your installment to the property seller. The process of making a payment on your behalf to the developer is referred to as disbursal. You may want to check with your bank about the disbursal process and speed as well.

4. Floating Rate Versus Fixed Rate

The point regarding floating versus fixed rate is perhaps the most vital factor regarding your bank choice. A floating rate is one which varies according to the market. Sometimes, it can go down while on other times, it could escalate. This volatility could affect your finances.

A fixed rate, on the other hand, is always fixed. No matter how the market performs, this rate remains constant. For example, if your EMI rate is pegged at 8%, it stays at that rate for the entire home loan duration.

Fixed rates are suitable for people with stable jobs. If you are working in a private organisation, it makes sense to choose a bank that offers a floating rate of interest.

5. Foreclosure Charges

Choose a lender that will not penalise you on your loan prepayment. This means if the loan period is 20 years, and you wish to make the entire prepayment in the 15th year, your bank must not charge you prepayment fees or other extra charges.


Now buying a house in GKRS PALACIO is easy and quick. Before finalising your lender, check its terms and conditions like sanctioning and disbursal time, kind of interest rate, prepayment penalties, etc.

Tarun Gupta

I have 5+ year Experience in Digital marketing (SEO, SMO and ORM). SEO stands for Search Engine Optimization, SMO stands for Social media optimization and ORM stands for Online reputation management.