The recent times have seen rise in lending rates by many banks. But teaser rates seem to continue for banks. Various banks/financial institutions provide different products of interest to borrowers.

LIC Housing Finance offers variable EMI facility which is specially targetted to the young salaried class. On the other hand, Punjab National Bank offers its customers with the facility to have staggered payments also on margin money.

Talking about the product by LIC Housing Finance, RR Nair, managing director and chief executive officer of LIC Housing Finance said, "This product is for the young salaried employees, who would like to own a big home but do not have the salary to match. There is a lot of scope to be innovative in the home loan market, as there are varied customers with a variety of needs."

PNB recently announced its festival bonanza on home loans.