Comparing Home Loan Offers in India — What to Check Beyond the Rate

## The rate isn't everything When comparing home loans in India, the headline interest rate is just one factor. Here's what else matters: **Processing fee:** Typically 0.25%–1% of loan amount. On ₹50 lakh, that's ₹12,500–₹50,000 just to get the loan. **Reset clause:** For floating-rate loans, how often does the bank reset your rate? Some banks are slow to pass on rate cuts. MCLR-linked loans reset quarterly or annually; RLLR-linked loans reset monthly. **Prepayment terms:** RBI mandates no prepayment penalty for floating-rate home loans. But check what happens to processing fee if you close early. **Top-up facility:** Some banks let you borrow additional funds against your home equity — useful for renovations. Check if this is available and at what rate.