BWI: ApnaPaisa Exclusive: Teaser Loan Customers can know what “Average Rate” will be Payable during the entire Tenure

Press release from Business Wire India
Source: Apna Paisa
Friday, March 19, 2010 12:24 PM IST (06:54 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Banking & financial services, Financial Analyst, Information technology
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ApnaPaisa Exclusive: Teaser Loan Customers can know what "Average Rate" will be Payable during the entire Tenure


Mumbai, Maharashtra, India, Friday, March 19, 2010 -- (Business Wire India) -- Indeed teaser rates have been big growth drivers in case of home loans, and even car loans. Loan customers are tempted with much publicized teaser rate loans for the big benefit these offer in the form of fixed rate initially between 1 - 3 years after which these move on to become floating rates prevalent at that time. This leaves many of the customers in the dark that what will happen to their EMI when the teaser period is over, whereas the tenure of over 10 years still remain to be serviced.

ApnaPaisa website has some great information for Home Loan and Car Loan seekers who are looking for these loans in the immediate future.
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ApnaPaisa has devised a unique tool which shows a customer that after availing benefit of teaser rate for initial fixed tenure, what will be the fate of home loan customer's EMI. How much will he need to cough up more in the years to come. This is unique to ApnaPaisa site where customers can know in detail how their EMIs will fan out during their chosen tenure. This will enable them to firm up their buying decision and also making provisions for the time when their EMI increases.

Here a customer will know how his EMI will move each year. These are the average rates calculated for the loan customers by taking into account the fixed teaser rates and after that prevalent floating rate applicable then. These differ when a customer actually finishes his teaser interest rate years and the calculation changes accordingly.

Speaking on the Average Rates showcased on the website, Harsh Roongta, CEO, ApnaPaisa says, " If you are planning to buy a home in the near future, then it makes sense for you to pre pone your borrowings immediately and go in for the current teaser rates into the safety of fixed rates for at least 2-3 years but before doing that just prepare yourself with the desired information which is available exclusively to ApnaPaisa website users. Here we have worked out average rate for the customers to know what kind of raise they can expect in their EMI. We hope that all our customers will find this information extremely useful."

About ApnaPaisa

Apnapaisa is a price and feature comparison service provider that empowers consumers to take an informed decision by providing a comprehensive comparison facility for a wide range of products like home loans, personal loans, car loans, business loans, credit cards and insurance products like life insurance (term plans, ULIP and traditional endowment and children plans), and general insurance policies (health, car, travel).

Apna Paisa.com is India's leading price comparison site and attracts about 7.2 million visitors per annum.

For more details visit www.apnapaisa.com



CONTACT DETAILS
Ms. Bienu Vaghela, Apna Paisa, +91 9819921962, bienu.vaghela@apnapaisa.com

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BANKING, Financial Analyst, IT

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