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Interesting home loan options

April 1, 2009

In a StepDown loan, the borrower pays higher EMIs in the initial years of the loan tenure. The EMI reduces in the later years.

Other banks that offer these loans include HDFC and Union Bank of India.

In case you prefer a certain financial institution and its product list does not mention these products, talk to the lender.

"Many banks do not market these products formally. But they would be willing to work out similar repayments options," said Harsh Roongta, CEO, Apnaloan.com.

Also read: Hyderabad airport among the world's top 10

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