The interest rate is the most important criterion, but also consider how the rate is benchmarked, the terms and conditions for repayment and balance transfer, and the processing fee.
- Banks usually lend up to 80-85 per cent of the property value, and up to 90 per cent in case of properties costing up to Rs 3 million
- Loan eligibility depends on repayment capacity, which in turn will be a function of your monthly income and that of your spouse, number of dependants, other loan liabilities, etc
- Loan tenure should not exceed your date of retirement
- Do a comparison of interest rates using aggregator websites
- Consider