Mumbai, Maharashtra -- (SBWIRE) -- 06/21/2010 -- Home loans in India are inevitable when buying new houses. Home loans till date have realised the dream of many-many individuals who wished to own their house. Thus home loans are boon for potential home buyers. However, like roses are accompanied with thorns, home loans are accompanied with interest rate which has a potential to rise steeply overnight thus putting enormous pressure on loan borrowers. The pressure is exerted in the form of increased monthly EMIs or increased tenure or at times both.

People who have opted for floating rate of interest has seen steep rise in it over the years. Also the interest rate offered to new borrowers is much lower compared to existing ones. People with high income and excellent credit history are offered loans at very competitive interest rates due to high bargaining power. All this and several other queries related to home loan interest rates are set to be resolved with the introduction of base rate. Base rate is all set to replace prime lending rate (PLR) which was till now benchmark for lenders offering loans above or below it. The base rate is also expected to bring transparency in the home loan process replacing the PLR which was supposed to be the actual reason for interest rate fluctuations and differentiation.

Rupeetalk.com contains articles, guides, tips, FAQs on home loan which makes home loan as a process understandable to the user and the different intricacies attached to it. The website also contains glossary which converts difficult home loan terms into simple language, explaining the same to the users. Users can also use the ‘EMI Calculator’ to calculate monthly EMIs or ‘Prepayment Calculator’ to calculate prepayment advantages.

Till date home loans could be offered above or below the PLR. However with the introduction of base rate, lenders could lend at either base rate or above it but not below it. Interest rates will be related directly to base rate. People who have opted for PLR have the option to change to base rate at the time of renewal of the contract. Shifting to base rate is allowed even before the renewal of the contract without attracting any penalty charges.

To know more information on Rupeetalk and Home Loans feel free to visit : http://www.rupeetalk.com/home-loan-india

About Rupeetalk.com
Rupeetalk India is a finance dominated website, offering various financial products and solutions to consumers. The website includes array of financial products like home loan, personal loan, car loan, credit cards, insurance, stocks, fixed deposits, etc. The website contains useful and relevant information on these loans and insurance products which help users compare them and accordingly decide on the product of their choice.

Website: http://www.rupeetalk.com