which one is better Floating or Fixed Home loan?

[PolicyWala]

Positive Points of Floating Interest Rate on Home loan

1- Floating rate home loans are cheaper (at least 1%-2%) than fixed interest rates.
2- As per past record, the interest rates of floating loan will surely fall over a long period and thus better than fixed rate.

Negative Points of Floating Interest Rate on Home loan
1- Floating interest rate is uneven so the monthly instalments or EMI's.

[Jeet]

Majority of people opt for fixed rate of interest as their mortgage option. Fixed-rate mortgages are stable and your monthly payment will never fluctuate as long as your loan exists.Your rate of interest is going to be the same till the loan is paid off.On the other hand floating interest rate are unstable and fluctuates with time. Home loans on fixed interest rates are more beneficial than floating rates.Companies loke Punjab National Bank, SBI, Axis Bank, Canara bank offer best deals on housing loans.