Anushka Rathod Instagram – Your Score Matters!!
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In our example, we have taken HDFC September rate slabs available on their website. Where if we see they offer home loan in the range of 8.75% to 9.65%
So, for example, if you take a 1 Cr home loan @8.75% for 20 years, your total interest outgo will be ₹ 1,12,09,057 /-
But if you have a low credit score banks will charge you higher interest rates.
In the above case if the interest rate is 9.65% your higher interest outgo will be ₹ 1,26,06,756 /-
Even a 7–8-month credit history can help you improve your credit score, so do take advantage of it!
Do Note: Home loan interest rate depends not only on your credit score but also on factors like your repo rate, salary, income stability, relationship with the bank, the loan amount, and your employment history.
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Source:
1. HDFC Interest Rate – HDFC Bank website
2. Grow Home Loan Calculator
[Anushka Rathod, finance, home, bank, celebrities]
#anushkarathod #finance #home #bank #celebrities | Posted on 25/Sep/2024 12:26:01
