A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 45 How to Reduce Your Home Loan Interest Burden

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.5% - 8.7% Floating
    Up to 0.5% (min. ₹5750) One time fee
    5L Min
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.40% - 8.75% Floating
    0.35% (max. 10,000) + S.T.
    15L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.40% - 8.85% Floating
    0.5% (min. ₹11,500) One time fee
    5L - 10Crs
    3-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.35% - 8.60% Floating
    Up to 0.5% (max. ₹11,500) One time fee
    5L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.40% - 10.05% Floating
    Up to 0.5% One time fee
    2L - 3Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.70% - 9.25% Floating
    0.50% (min. ₹10,000) + S.T.
    12L - 5Crs
    1-20 Years (10 yrs plot loan)
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good To Know
    Eligibility Criteria
    8.35% - 11.75% Fixed/Floating
    0.50% (min. ₹10000) One time fee
    5L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.5% - 8.55% Floating
    10,000 + S.T. One time fee
    40L - 5Crs
    1 - 25 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12.5% - 17% Fixed/Floating
    2% One time fee
    2L - 1Cr
    1-20 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good To Know
    Eligibility Criteria
    8.55% - 8.99% Floating
    ₹5,000 to ₹10,000 + S.T. One time fee
    20L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.67% Floating
    1% One time fee
    5L - 5Crs
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.65% - 8.85% Floating
    0.5%
    20L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good To Know
    Eligibility Criteria

    How to Reduce Your Home Loan Interest Burden is Rated as "Great!" by 22631 Users

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    Home Loan BYTES FROM OUR KITCHEN

    How to Decrease Your Interest Payment on Your Existing Home Loan:

    For almost every home loan borrower, paying EMIs regularly take up at least 40% of their monthly income. Of course, it’s something they’d want a reprieve from. But sadly there’s not much they can do because of the current banking system can only offer so much flexibility.

    However, there’s a solution for everything, and in this case, to reduce your home loan interest payments. Although this solution isn’t as straightforward, a strict adherence to the points you mentioned below will help you cut your interest payments.

    Consider Prepaying Your Home Loan:

    Home loan borrowers often tend to prepay their home loans, but the strategy they use to do so varies between person to person. For instance, one individual might decide to make partial prepayments every six months or a year in order to bring down their overall interest payment. If you want get your interest payment down, this is one approach you can use. An advantage to taking this approach is that banks and NBFCs these days don’t charge any prepayment fees or penalties and actually encourage borrowers to prepay.

    Basically, how a home loan works is, you will be paying the interest for the first few years and the principal repayment only comes in during the latter half of the schedule. So, if you prepay the loan amount in the initial stages, you will be spending a lesser amount on paying interest because the interest amount will significantly decrease.

    Opt For a Balance Transfer:

    Balance transfers were unheard of a couple of years ago, but currently almost every major bank and NBFC has warmed up to offer the service to new borrowers. A balance transfer is basically where a borrower who is unsatisfied with higher interest loan from their current lender can choose to switch to a different lender who’s offering a much lower interest rate.

    One thing worth noting here is that while balance transfer loans come with lower interest rates, they also require you to pay a certain amount to both your current and new lender. For instance, your current lender will charge a penalty to allow you the transfer, while your new lender will charge a processing fee to provide you the loan. So, before you go with a balance transfer you should look into the total amount you are likely to save on the deal.

    Increase Your EMI Payments:

    If you are on a floating rate home loan, you will know that the interest rates often keep changing based on the market conditions. In cases when lenders reduce your interest rate, they will either keep your EMIs constant while decreasing the tenure or reduce your EMIs and increase your loan tenure.

    For the deal to work out in your favour, you should either choose to keep the EMIs constant, or better yet, increase the EMIs. What this does is decrease the overall interest outlay on your loan, thereby saving you a major chunk of money.

    These are some of the most effective strategies you can employ in order to reduce your interest payments to as low a degree as possible.

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  • How to Reduce Your Home Loan Interest Burden Reviews

    • HDFC Limited Home Loan
      "High on ROI"
      0.5 4.0/5 "Great!"
      HDFC LTD has provided me the home loan with ease. I did not have to follow much on the process. I got the loan on time. The verification went well too. The institution is very high on the interest rate and the processing charges are also very high.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 23, 2017
    • Bank Bazaar Customer Support
      "Immediate response"
      0.5 4.5/5 "Excellent!"
      Bankbazaar.com have contacted me within five to ten minutes of time, also the response is very prompt. They have forwarded the information to the bankers on immediate basis. Customer service is good and the website is easy to access.
      Was this review helpful? 1
      , pune
      Reviewed on Jun 22, 2017
    • HDFC Limited Home Loan
      "Better "
      0.5 4.0/5 "Great!"
      HDFC limited have contacted me after sometime from the time of inquiry for the home loan. Rate of interest was around 8.5%, which was bit huge one for me , also I am okay with that. Customer service and other things were good only.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Centralized online portal to make the comparison"
      0.5 3.5/5 "Pretty good"
      Bankbazaar.com is good thing like I can make the comparison of every bankers relating to the financial requirements. I would like to say that they could make the information to be get forwarded to unique bank only, which customer is really opted. Online portal of the Bankbazaar.com is an average one.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • HDFC Limited Home Loan
      "Service to be get improved"
      0.5 1.0/5 "Really Bad"
      Nobody have contacted me from the HDFC limited for the home loan, which I have inquired. Rate of interest was around 8.6%, also I am okay with them. In future, I would like to go ahead with them in future and I request them to contact the customer as soon as possible.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Fantastic "
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is very good and am using it from the last two to three years of time. I would like to say all the current scenario of the financial market can be understand through the Bankbazaar.com, also the online portal is very much easy to access.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 22, 2017
    • HDFC Limited Home Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      I did not taken the home loan with the HDFC limited because I have already arranged the funds from my end. Customer service is very good one and the response is also good one. The rate of interest was around 8.5% with the HDFC limited, also I am comfort with them.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Fabulous"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is very helpful and they have contacted me for many times, also in future I would like to go ahead with them only for the financial requirement. Response and other things are also fine one with the Bankbazaar.com.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • Punjab National Bank Home Loan
      "Good going"
      0.5 4.0/5 "Great!"
      I did not availed the home loan with the PNB housing finance limited because I have arranged the finance from the other sources. I have not found any issues with them till now and the rate of interest rate was not aware by my end but their services are really good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Mentor"
      0.5 4.0/5 "Great!"
      Comparison is the major factor with the Bankbazaar.com, also they have made the brief discussion over there, which really helped me to understand the market scenario and the banking process. Information are really crystal clear, also there were no hidden charges.
      Was this review helpful? 0
      , guwahati
      Reviewed on Jun 22, 2017
    • HDFC Limited Home Loan
      "Best"
      0.5 4.0/5 "Great!"
      Within twenty days of time, I have got the home loan with the HDFC limited and the response and other things with the HDFC limited was good one, also the customer service too. Rate of interest was around 8.5%, which was not okay for me , also they have told post documentation process , rate of interest would not get changed.
      Was this review helpful? 0
      , guwahati
      Reviewed on Jun 22, 2017
    • HDFC Limited Home Loan
      "Better "
      0.5 4.0/5 "Great!"
      I got the home loan with the HDFC limited and the interest rate is around 8.35%, also the loan amount got sanctioned in twenty five days of time. Customer service is good and the processing charged was around 0.5% of the total capital amount, also I am very much happy with them.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Better "
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com had chosen the right bank for my financial product. Customer service of Bankbazaar.com is really good and I came to know about bankbazaar through internet search. Website of the Bankbazaar.com is very much easy to access..
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Axis Bank Home Loan
      "Satisfied"
      0.5 2.0/5 "Expected more"
      I had not taken the home loan with the Axis bank because of the huge processing charges and also they have delayed for some time. Customer service was not really good after the document collection process, also they have not provided the proper feedback too.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Indiabulls Home Loan
      "Very Good service"
      0.5 4.0/5 "Great!"
      Very recently I got Home loan from India bulls. The rate of interest is low with India bulls. I am happy about the loan amount. I got the home loan with the tenure of 20 years. They have offered me the loan with the floating interest rate. There is no fore closure charges applicable with India bulls.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 22, 2017
    • HDFC Limited Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I got the home loan with the HDFC limited and the interest rate was around 8.4%, also the loan amount got disbursed within a week of time. Service aspects and everything is fine one for me. They have provided around 80% of the cost of home as loan. Documentation process were nominal one with the HDFC limited.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Processing Home loan transfer"
      0.5 5.0/5 "Blown Away!"
      Application process is completed within 20minutes. Still I am unable to believe. Let me see how it goes. Interaction with the team is very nice. Expect the whole transfer in the same way to be smooth. seems to be very easy than manual data collection enquiry and all the stuffs.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Wonderful "
      0.5 4.0/5 "Great!"
      Bankbazaar.com is very good one for me and am using it from the last one year of time. Services and other aspects are really good one. Online portal of the Bankbazaar.com is easy to access, also I got the response from them in the immediate manner, I would like to say that the information so provided could be used and we can save it for future purpose to process the application with other Bankers.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Axis Bank Home Loan
      "Better"
      0.5 4.0/5 "Great!"
      Process and everything was a good one with the Axis bank and I don't have any issues with them till now. Response was very much delayed , also the process lapsed with the Axis bank. In the mean time, I had got the better offer from the Axis bank..
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • ICICI Bank Home Loan
      "Wonderful "
      0.5 4.0/5 "Great!"
      I got the home loan with the ICICI bank and the interest rate is around 8.35%, also the service aspects are good. I had chosen them because the ICICI bank have strong bond with the builder, so the builder recommends me to deal with the ICICI bank. Response was fine with the ICICI bank and they have delayed the disbursement up to the month of November.
      Was this review helpful? 0
      , nagpur
      Reviewed on Jun 22, 2017
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