Get the Tata Capital App to apply for Loans & manage your account. Download Now

Blogs SUPPORT
Loans For You
Loans for Business
Investment
Insurance
Apply

Quick Links for loans

Quick Links for Insurance

Investment

Offers Quick Pay
Back

Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure
Know More
Back

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required
Know More
Back

New Commercial Vehicle Financing

  • First time user
  • Retail and strategic Clients
Know More
Back

Used Commercial Vehicle finance

  • Repurchase
  • Refinance
  • Top up
  • Balance Transfer
Know More
Menu  
 
Apply Now

Tata Capital > Blog > Refinancing Your Home Loan: The Smart Way To Save More

Loan for Home

Refinancing Your Home Loan: The Smart Way To Save More

Refinancing Your Home Loan: The Smart Way To Save More

If you have gotten a home loan recently, you know how stressful loan repayments can get. Long loan tenures and substantial loan EMIs are a given if you have taken a larger loan amount. And high home loan rates only make repayments harder. But with home loan refinancing, managing home loan repayments is easier.

That’s right. When you refinance your home loan, you essentially transfer your outstanding home loan to a new lender to repay your debt at better terms. Usually, this means you save a lot more on loan repayments too.

Curious about how you can save more through loan refinancing? Read on to find out.

Save on loan interest

This is among the top reasons for borrowers to refinance their home loans. And if you’re unsure, this is how it works.

When you refinance your loan, you usually choose a lender offering a lower home loan rate. This way, you lower the loan EMIs and also save money on loan interest.

If you’re already thinking ‘when can I refinance my home loan?’ The answer is right now. You see, home loan rates are on a multi-year low currently. So, refinancing your loan now can help you save more funds. Even better if you have plenty of loan installments remaining.

Change from fixed to a floating rate and vice versa

Sure, you can choose between fixed and floating home loan interest rates at the beginning of your tenure. But what if you realize that your loan repayments could be easier if you chose a different interest rate in the middle of your term? Then you can simply opt for the interest rate of your choice while refinancing your home loan. This can help you save a ton of funds, especially if you are burdened with a high home loan interest.

Top-up loans

You may have to take an additional loan to meet your financial obligations while still paying off your home loan. But did you know you could save money while still paying off these financial obligations? Yes, when you refinance housing loan, you can get a loan top-up to consolidate your debt at your new lender’s home loan rates. This helps you avoid paying off debts at multiple interest rates and makes debt repayment simpler for you. Besides, you also save the total amount of money you spend on interest since you repay one loan at a nominal interest rate.

Conclusion

Now that you know home loan refinancing can help you save money, the next step is looking for a suitable lending partner.

Wondering what criteria, you should look for before you refinance your loan with a new lender? Well, affordable interest rates, comfortable loan terms, and low refinancing fees are some of the basic requirements. A simplified online loan process, minimal documentation, and quick disbursals are added bonuses. And at Tata Capital, we provide you with all of them.

So, what are you waiting for? Refinance your housing loan with Tata Capital and save more money on your loans today!

Apply for Home Loan

Say Hello to Your New Home with Our Easy Home Loans!

Apply now
Popular Searches
anyror modt charges 712 utara online gujarat pre emi calculator earnest money deposit Goa Land Record earnest money khasra number meebhoomi Assam Land Record
Disclaimer

Most Viewed Blogs

Trending Blogs

Calculator

Personal Loan EMI Calculator

Personal Loan EMI Calculator
Home Loan EMI Calculator

Home Loan EMI Calculator
Business Loan EMI Calculator

Business Loan EMI Calculator
Used Car Loan EMI Calculator

Used Car Loan EMI Calculator
Two Wheeler Loan EMI Calculator

Two Wheeler Loan EMI Calculator
Loan Against Securities Calculator

Loan Against Securities Calculator
Loan Against Property Calculator

Loan Against Property Calculator
More Tools
Our Subsidiaries
Our Other Websites

Useful Links and Resources

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Policies, Codes & Other Documents

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Tata Capital Solutions & Services

Uh oh, something went wrong

Please try again later.