Tips to help you save money before, while and after taking the loan
Contrary to popular opinion, there is no overall restriction of Rs 1,50,000 on the interest payable on a loan taken to acquire/construct a house property or in respect of more than one property.
Home loan cover from the lender may not be the best option
Home loans also pose lower bad-debt risks for the banks than corporate loans.
SBI fixed its base rate, the minimum lending rate, at 7.5 per cent which would replace its benchmark prime lending rate from Thursday.
BoB's offer of a lower home loan rate to customers with credit scores of 760 and above makes it incumbent on everyone to pay heed to this all-important number.
Banks have outsmarted housing finance companies by cornering 65 per cent of the home loan market, which grew by a whopping 76 per cent to Rs 51,673 crore last fiscal, a Federation of Indian Chambers of Commerce and Industry survey said on Tuesday.
Whenever you applied for a home loan the bank or their agents gave you two options: Fixed or floating. Now you can also opt for a mix of both.
Paying higher EMIs on your home loan? Don't fret. Here's a simple way to get lower interest rate on your home loan.
A few important factors to keep in mind while applying for a home loan, and strategies to manage it, whatever your age.
ICICI Bank, the country's second-largest bank on Friday hiked lending rates for new retail customers by 50 basis points and deposit rates by 50-100 basis points for deposits of 1-3 year maturities.
Home loan seekers should consider opting for a fixed rate loan
A few steps that will help ease your home loan transfer to another lender.
The RBI's decision to hike repo rate will hit consumers' buying sentiment, but will have a moderate impact on housing sales in the affordable and mid-income categories, according to industry experts.
With ICICI Bank amongst country's three topmost lenders already offering better home loan rates to existing customers post RBI's 0.5 per cent cut in repo rate in April, competitors too are likely to follow suit.
Here are 5 ways by which individuals can enhance their home loan eligibility.
Congress leader Sachin Pilot accuses the BJP of indirectly supporting the ruling LDF in the upcoming Kerala Assembly elections, alleging a hidden alliance for mutual benefit.
Make your 'dream-home' dream come true
In order to boost the troubled housing sector, the government on Sunday said public sector banks would soon unveil a package for those seeking home loans of up to Rs 20 lakh (Rs 2 million) and promised measures that would accelerate the "growth trajectory."
The UK High Court has concluded the hearing for Nirav Modi's application to reopen his extradition appeal, focusing on claims of potential torture during interrogations in India. The court has reserved its judgement.
The Union Bank has increased interest rates on deposits and floating rates on home loans by 0.25 per cent.
P V Subramanyam takes a hard look at the pros and cons of both options.
Have a query regarding your home loan? Maybe we can help. Drop us a line and our expert, Anil Rego, will answer it.
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.
Each problem is discussed in detail and appropriate remedies are mentioned along with it.
In an online chat with Get Ahead readers, Rajiv Raj of CreditVidya.com answered home loan queries.
Canara bank slashed interest rates for home loans by 25 basis points.
The easiest way to increase the home loan eligibility is to go in for the maximum tenure of repayment that a bank is willing to give.
Country's largest lender State Bank of India on Wednesday said it will extend its 8 per cent concessional home loan scheme, popularly called teaser rates, by another 3 months till December.
The choice for the home buyer is clear - either get adequate life cover or a mortgage insurance product.
Normally, all banks provide home loans up to 60 times your monthly net income. All sounds good till the time you submit your documents and pay loan processing fees.
Under the earlier scheme, borrowers were charged fixed interest rate of 8.5 per cent for Year 2 and Year 3 for loan amount less than Rs 50 lakh (Rs 5 million) and a rate of 9 per cent for first three years for loan amount of greater than Rs 50 lakh. Year 4 onward the interest rate was fixed at PLR minus 2.75 basis points.
Under the earlier scheme, borrowers were charged fixed interest rate of 8.5 per cent for Year 2 and Year 3 for loan amount less than Rs 50 lakh (Rs 5 million) and a rate of 9 per cent for first three years for loan amount of greater than Rs 50 lakh. Year 4 onward the interest rate was fixed at PLR minus 2.75 basis points.
The bank, which had announced a similar cut in January, will see its mortgage prime rate fall to 13.75 per cent from April 1. In a statement, the bank said that the benefit will be available to all its existing customers on floating rate loans. A bank spokesperson said that, depending on loan tenure and amount as well as the customer's relationship with the bank, he could get a loan at up to 50 basis points lower than the benchmark rate.
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