The proposal will also include providing loans at below market rates to real estate developers. But the loan disbursed under this will come with a number of conditions like an upper ceiling on selling price of flats and individual homes.
Instead of prepaying your home loan before the term ends it's better to invest the amount you would save on prepaying the loan and earn good returns on investing the same.
Say cost of funds too high to lower lending rates.
It is important to know that the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act empower the bank to take possession of the property that is mortgaged to them, to recover the loan outstanding from the borrower.
Your EPF isn't just a retirement pot. It's a financial safety net you can dip into for life's biggest needs. Here's how these one-time advances work and when to use them wisely.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
They do all the running around, including negotiating with the new lender
The introduction of the base rate system for lending has caused a lot of furore in borrowers' minds. Here's clearing all the confusion.
Home loan expert Harsh Roongta tells you how to make the right choice.
Homework you must do before approaching a bank
SBI's home loan portfolio has recorded a 73.86 per cent growth against Rs 623.38 billion as on September 30, 2009
In a move that would help a large number of home loan customers to reduce their interest burden, nation's largest lender State Bank of India has decided to allow them to reprice their existing loans at lower rates.
'We have given riot-free Maharashtra in our 18-month rule.'
You need not worry about the long tenure as you can prepay the amount that is around 3-4 times your EMI periodically like once a quarter or when your year end bonus comes through.
It has been decided to reduce home loan rate by 20 basis points.
Before taking the plunge and being a co-applicant, make sure that you are aware of the rights and responsibilities that come with it!
Servicing two EMIs will substantially reduce tax benefits on second flat.
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
Housing loan customers may have to repay part of their borrowings or suffer very high EMIs, as there is a scurry among banks to avoid bad debts following successive interest rate hikes in the last six months.
The government has no plans to increase the income tax ceiling on home loan interest payments, though there was a demand from the urban development ministry in this regard.
In order to promote the housing sector, Reserve Bank of India on Friday decided to rationalise risk weightage on housing loans, making the product attractive for both borrowers and lenders. With revision in the risk weightage, the requirement of capital provision for banks will come down. This will encourage banks to push housing loan products with attractive features.
Housing Development Finance Corporation is to raise the interest rate on its home loans across all maturities by 0.50 per cent after Diwali.
The recent policies that have been announced by the Reserve Bank of India (RBI) will allow banks to fully use its capital, funding profile to keep business at an equilibrium level, which otherwise was getting skewed towards retail, said K V Kamath, chairman, Jio Financial Services.
Home loan expert Harsh Roongta's take on where the home loan interest rates are headed after the Reserve Bank of India recently cut the cash reserve ratio by 0.25 per cent.
The family of Anjel Chakma, who was killed in Dehradun, is seeking capital punishment or life imprisonment for those responsible. They also urge the government to prevent racial hate crimes against people from the Northeast.
Here, we present a case in favour of individuals insuring themselves so as to ensure that home loan.
While interest rates on home loans have come down by four per cent some existing borrowers end up paying fatter EMIs. Here's how you can change all this.
In what could bring down home loan rates, the Employees Provident Fund board is toying with the idea of investing in mortgage-backed securities as part of its multi-pronged strategy to raise returns on its assets.
Interest on home loans is likely to remain low and the share of banks in the overall mortgage market is set to rise in the medium term.
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.
Leading non-banking financial company (NBFC) Shriram Finance on Friday said Japan-based MUFG Bank would invest Rs 39,618 crore, or $4.4 billion, to acquire a 20 per cent stake on a fully diluted basis through a preferential issue of equity shares.
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