In India, the ultimate goal of every middle-class Indian is to own a home. It may be a villa in the remote outskirts of a city or a narrow apartment in the city center, the goal is to own one.
Banks as usual understand this temptation and do their best to offer home loans at “attractive” rates. At the time of availing a loan, not everyone (including me) understand the long term implication of a housing loan with floating interest rates. Read on to get some some details. [Read more…]