Home Loan From Bank Or From NBFC. What Do I Choose?
Home loan segment tops the highest business in the loan industry. If you are looking for a home loan you have two choices. Either apply for a loan through a Bank or with an NBFC. Although it may be a tricky task to choose among the both, yet there are parameters on which you can draw a comparative evaluation such as, the rate of interest, eligibility, processing fees, repayment period, etc. To apply with a lender that provides the best home loan rates is usually the tendency of all home loan borrowers. But since home loan is the longest financial commitment choosing a lender that provides the lowest interest cannot be the only criteria to avail the housing loan. Therefore, given below are the various factors that highlights the differentiated benefits between the both which are vital to help you select the best option for your home loan: - Difference Between Banks & NBFCs In Availing A Home Loan 1) Regulatory Authority Banks: Are regulated by Reserve Bank Of India.