Defaults due to rising rates resulted in the move.
Less than a week after its teaser home loan scheme expired, HDFC has re-launched it at slightly higher rates. And, SBI is also likely to extend its own teaser rate scheme, due to expire on September 30, a top official said on Monday.
Private sector lenders ICICI Bank and Kotak Mahindra on Tuesday announced low rates of 8.25 per cent and 8.49 per cent respectively for home loans, intensifying the cut-throat competition sparked by SBI and HDFC.
There will be an automatic reduction in interest rates of all floating rate loans anytime soon.
Close on the heels of HDFC Bank, state-owned State Bank of India today hiked fixed interest rates on home loans by 0.25-0.50 per cent while keeping the floating interest rates intact.
With banks competing for the ever-increasing pie of home loan borrowers with new schemes every second month we decipher what HDFC's latest teaser home loan scheme is all about and whether you should opt for it or not.
A six-point checklist to follow when lenders reject your home loan application.
State Bank of India's decision to freeze home loan interest rates at 8 per cent for a year has stirred a controversy with the country's largest mortgage player HDFC on Tuesday terming the move as a 'gimmick'. SBI executives retorted by saying that the package was not a 'teaser rate', as HDFC chairman Deepak Parekh described the move.
If one is an existing borrower or looking for a loan, there's reason for cheer.
Home loan major HDFC Ltd has raised its prime lending rate by 0.75 per cent to 13.5 per cent in a bid to manage its rising cost of funds.
HDFC on Thursday offered home loans to women borrowers at 9.85 per cent.
Lenders have lined up a number of home loan products that can fit every aspirant's annual income.
Changes in lifestyle due to aspects like lockdowns and work from home has created additional demand for items such as television sets, laptops, Wi-Fi routers and even vacuum cleaners, which the bank is funding at present.
Just in case you have surplus funds and are thinking about it, here are some pros and cons you must know...
Lenders have lined up a number of home loan products that can fit every aspirant's annual income.
Chartered accountant and Sebi registered investment advisor, Harsh Vardhan Roongta, answers your home loan queries
Months after dismissing State Bank of India's special loan scheme as a gimmick, mortgage player Housing Development Finance Corporation has decided to follow the country's largest bank.
Following are certain important things that lenders consider while processing loans to self-employed...
Here are some of the common mistakes that most home buyers make when it comes to home loans and how to avoid them.
HDFC has joined the interest rate war on housing loans by slashing both variable and fixed rates by 0.5 to 0.75 per cent for individual loans with effect from February 5.\n\n
Banks and NBFCs are launching festival offers, including lower loan rates, cashback, EMI schemes and GST-linked benefits to tap rising demand ahead of Diwali
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
Is there a correction in home loan interest rates, or is it just an off-season blip?
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
A balance transfer to another lender entails substantial cost and time.
Less than a week after Housing Development Finance Corporation re-introduced its teaser home loan scheme, the country's largest private sector lender, ICICI Bank, has followed.
A day after the Reserve Bank of India's monetary-tightening measures, banks on began raising interest rates, effecting the hike for the second time in a month.
A key player in the home loan market, HDFC on Thursday said it would hike housing loan rates by another 0.50 per cent this month-end or early March.
NBFCs are allowed to include registration, stamp duty
Make your 'dream-home' dream come true
Here are the many pros and some cons of going for such an arrangement
Tamal Bandyopadhyay details HDFC Bank's digital journey.
The choice for the home buyer is clear - either get adequate life cover or a mortgage insurance product.
Gandhiji inspired the nation to believe in their dream. He continues to be an inspiration to each one of us by making us believe in our dreams. Make that home loan work for you and don't give up till you sign on the dotted line for owning your dream home.
Here's a dummy's guide to the home loan fee maze
SBI, ICICI Bank and PNB reduce interest rate for loans above Rs 75,00,000
HDFC chairman Deepak Parekh on Friday exuded confidence that the synergies between HDFC Bank and the group companies will deepen with the bank taking on the mantle of ownership of the group following the reverse merger likely to be effective from Saturday. As chairman of HDFC Ltd, Parekh in the last message to the shareholders said home loans will now be complemented with HDFC Bank's core strengths -- its sales engine, execution capabilities at scale and deep insights on consumer behaviour. The reverse merger of parent HDFC Ltd with HDFC Bank is expected to be effective from July 1.
