Exit strategy

Featured articles, Money

If you’re stuck with a loan that you’re not happy with, it may make sense to switch to another plan, or repay it before the tenure is up, even if this attracts a penalty. We help you choose the best option

In the first six months of 2010, banks lent out a whopping `16,195 crore in home loans, a substantial jump from the `7,891 crore lent in the corresponding period of 2009. Across the board, individuals are borrowing more than ever – to buy homes, cars and consumer durables.

While it’s important to find the best deal, in terms of interest rate and the loan’s tenure, what many people neglect while applying for a loan is a good exit strategy.

 

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