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.
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!
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.
Servicing two EMIs will substantially reduce tax benefits on second flat.
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.
'Unless banks focus on the Rs 10-15 lakh loan segment, growing affordable housing will remain a challenge.'
Housing Development Finance Corporation is to raise the interest rate on its home loans across all maturities by 0.50 per cent after Diwali.
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.
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.
Here, we present a case in favour of individuals insuring themselves so as to ensure that home loan.
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
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.
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.
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.
Are there times when you feel really impatient about the fact that you need to wait several more years to free your home from debt? Well, here is a thought for you.
Will your home loan rates drop now that the RBI has signalled the onset of lower interest rates after 0.25 per cent cut in repo rate and CRR?
Home loan expert Harsh Roongta advices borrowers on points to consider before going to a home loan lender.
The interest rates on housing loans are expected to go up by 25 to 50 basis points in the coming months but it would not affect demand from retail borrowers, an industry official said on Monday.
File a written complaint with the bank's grievance redressal officer and secure an acknowledgement.
State Bank of India is keen to encourage women to take home loans.
The accused had links with six persons, arrested on November 3 from Morbi, Surendranagar, Surat and Amreli districts, for allegedly routing Rs 200 crore to Dubai-based cybercriminals using nearly 100 mule accounts, the release said.
Borrowers wanting to prepay home loans can look forward to some relief as RBI on Tuesday indicated that it would scrap prepayment penalties charged by banks.
Yes, you need to be safe when dealing with third party agents who act as intermediaries between you and the lending institutes.
HSBC India has announced a new home loan package offering to pay back part of the interest to borrowers. Yes, like the foreign bank claims, it is a first in the home loans business. But if one takes a careful look, it might not be such a big deal after all.
The credit policy annouced by the RBI on July 31 is likely to have no impact on the home loan interest rates feel experts.
It is not being argued SBI is doing a bad thing by announcing low rates, but it is understanding the full implications of such loans before taking one, says iTrust Financial Advisors.
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