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Home loan interest rates play a crucial role in determining the affordability of purchasing a home. They vary based on factors like loan tenure, borrower’s credit score, and the lender’s policies. A lower interest rate can reduce the monthly EMIs, making it easier to repay the loan. Many banks and financial institutions offer competitive rates, and it’s wise to compare options before committing. Additionally, keeping a good credit score and opting for a shorter tenure may qualify borrowers for better rates. Staying informed about current rates helps make a well-planned home-buying decision that fits within budget.
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