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What is a fixed rate loan? Should I opt for a fixed rate loan?

April 26, 2017fixed loan opt rate

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What is a fixed rate loan? Should I opt for a fixed rate loan?

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Ans.: A Fixed rate of interest is one where the rate charged by the HFI on the loan is constant over the tenure of the loan. It is advisable to go in for a Fixed rate if you feel that the rate of interests in the market have touched rock bottom and the rates can only move upwards.