Glossary
Floating Rate
What it means
Floating-rate loans reprice when the benchmark changes. Since October 2019, banks must link floating-rate retail and MSME loans to an external benchmark, usually the repo rate, and reset at least once a quarter. NBFCs and HFCs use their own benchmark rates.
Floating rates are usually lower than fixed rates at the outset and carry no prepayment charges for individual borrowers. The trade-off is uncertainty: your EMI or tenure changes when rates move.
Where it applies
Home Loan
Home loans from ₹5 lakh to ₹10 crore at floating rates from about 7.35% p.a., with up to 90% funding and tenures up to 30 years, across banks and housing finance companies.
- Rate from
- 7.35% p.a.
- Up to
- ₹10 Cr
Loan Against Property
Loans against residential, commercial or industrial property from ₹10 lakh to ₹15 crore at rates from about 8.75% p.a., with tenures up to 15 to 20 years and funding up to 70% of market value.
- Rate from
- 8.75% p.a.
- Up to
- ₹15 Cr
More terms
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