All you ever dream of in your life is to buy a home for yourself. It is undoubtedly a basic necessity. If you have the capacity to buy a house all by yourself, there is nothing like it in the world. But if you do not, then also you need not to worry about anything, as today there are many financial institutions who offer you home loans at affordable interest rates. There are a few things that should be kept in mind before getting home loans in Hyderabad from a bank or any other financial institution. You should always remember your repayment capacity of the loan that you have taken and also the tenure for which you are buying the loan. People most of the times opt for a loan for a longer tenure. But they forget that by doing so they will have to pay back an amount which will be much larger than that of the original amount which they have borrowed from the bank. The only good thing about a longer duration loan is that your EMI will be less. Only 80% of the value of the house can be financed through a loan and the rest of the amount you will have to manage yourself. As directed by the finance ministry that if anyone buys a home loan, they would get a rebate on the amount of tax that they are liable to pay.Following are the interest rates charged on home loans by some top banks in the country:

 

BankInterest RateBank Of India 10.75% United Bank Of India 10.5% Karnataka Bank 10.75% PNB Housing Finance 10.75% Axis Bank 10.75% Syndicate Bank 11% PNB 11.25% State Bank Of Travancore 11.25%

 

The next thing we can talk of is the personal loans. These loans unlike the home loans are unsecured i.e. you do not have to keep your assets as collateral with the bank to get such a loan. These loans are taken when you need money quickly and at a very short notice. A HDFC personal loan can be bought to get the premises of your household repaired, or to buy an air conditioner or to get a top up on the loan amount that you have already taken from the bank. Also the interest rates charged on a personal loan by the banks or any other institution that lends money to fulfill personal obligations and requirements is much higher than that of any other kind of loans available. Of course there are a lot of benefits of buying a personal loan, as we all know that you get a little respite on the tax amount that you have to pay to the government. So it is a good option to get the money financed by any bank or a financial institution in the country. These are the interest rates that are charged by few of the banks in the country:

BankSalariedSelf EmployedProfessional Axis Bank 13.99%-20% 15%-22% 13%-15% Standard Chartered 15%-22% 16%-19% 14.5%-16% HDFC Transfer 12.99% onwards: Fresh 14-16% Transfer 12.99% onwards: Fresh 14-16% Transfer 12.99% onwards: Fresh 14-16% Kotak 15.75%-19.25% 18%-19% 14.5%-16%