The basic term loan provides certainty, at the cost of flexibility. That means it’s sometimes possible for you to enjoy lower loan interest rates.
This is because banks enjoy the certainty of calculating just how long a financial commitment will last. This lack of flexibility can be a real drawback for some however.
The semi-flexi loan provides the ability to be flexible in what is (let’s face it) a constantly changing world.
That means if your circumstances change and enable you to pay off the principal amount more quickly, you can benefit from reduced overall costs as your home loan interest is likewise reduced.
The full-flexi loan unlocks the truly flexible option, at the cost of a monthly fee. You can treat this financial product almost like you would any other bank account.
You'll have the added benefit of that account being linked to reducing your home loan interest. The one main downside is the monthly cost we mentioned earlier.
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