Jan 21 2014, 11:24 PM
QUOTE(blackchides @ Jan 21 2014, 10:44 AM)
Hi there, I've a question to ask regarding the loan rates that are offered by banks.
Is the loan rate offered ultimately decided by the amount of loan approved (ie. the higher the loan, the better the rates) or the income of the loanee (the higher the income, the better the rates)? Or is it a combination of both?
Thanks for your time
Combination of both. Each bank has a different appetite for risk and also dependent on management discretion but they should be clear at the outset (before or upon your application) what is the range of interest they can offer e.g. the best now is around -2.45% I thinkIs the loan rate offered ultimately decided by the amount of loan approved (ie. the higher the loan, the better the rates) or the income of the loanee (the higher the income, the better the rates)? Or is it a combination of both?
Thanks for your time
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