Most first time home loan borrowers have no idea about how to bargain for one. Here are a few important things that you should watch out for while bargaining for a home loan.
'The rise in SIP contributions has created a pool of long-term MF assets that can be pledged for loans.'
Punjab National Bank has slashed floating home loan rates to 7.50 per cent for upto 10 years while pegging it at 7.75 per cent for 10-20 year maturity.
As liquidity eases and inflation turns negative, Dewan Housing Finance Corporation on Friday said it expects home loan rates to come down by 25-50 basis points in the near-term.
Here are a few useful recommendations to help you close your home loan early and save on interest costs.
HDFC, the pioneer, ICICI, the game-changer, and SBI, the original teaser, turned the market on its head.
Borrowers should consider switching from an MCLR-linked to a repo rate-linked loan.
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.
With banks offering competitive interest rates, no processing fees, EMI waive offs, cash backs and an additional deduction of Rs 1 lakh on interest amount, home loan customers need to make merry
A US court's $1.07-billion default judgment against Byju Raveendran can't be enforced directly in India because the US isn't a "reciprocating territory." Creditors must file a new case in an Indian court.
After the Reserve Bank of India (RBI) raised key policy rates by 25 bps in the third quarter review of monetary policy, banks have started raising lending and deposit rates.
Young borrowers have the opportunity to get bigger loans because age is on their side.
Readers' queries on when, why and how to change their home loan lenders answered.
"We have revised our interest rate by 1.5 per cent from 13 per cent to 11.5 per cent," an ICICI Bank spokesperson said. This cut will, however, be applicable for only new home loans, the spokesperson said.
'Women weavers are hardworking, open to learning, resilient.' 'They finish their cooking, housework, puja, then they come to weave.' 'They care about design. They care about beauty.'
All it requires is to begin early and a bit of discipline. Here's a to-do list for those in who want to buy their own home without going for a home loan.
Borrowers burdened with increasing EMIs because of increasing interest rates can now heave a sigh of relief.
Can one claim both HRA and home loan benefits? This seems to be a confusing factor for most tax payers.
The Reserve Bank has paved the path for increasing the liquidity for banks, enabling several positive steps in the real estate sector.
India's housing market has remained resilient this festival season (Dussehra-Diwali period), despite global macroeconomic challenges, tech-sector layoffs, and affordability pressures, with developers reporting 10-25 per cent year-on-year (Y-o-Y) rise in home sales across major cities.
If one is an existing borrower or looking for a loan, there's reason for cheer.
It has also got the Reserve Bank's nod to set up a non-banking finance company subsidiary for its consumer loan business, which would primarily focus on vehicle loans and lending to SMEs. Both HFC and consumer finance subsidiaries would be in place in the next two months, and the employees currently working with the related businesses at Reliance Consumer Finance Ltd would be relocated to the new entities.
Wiser from last year's free-fall, realty firms discovered a new mantra in 'affordable housing' and found help from banks who offered low interest home loans to build their businesses in 2009.
Pay EMI for the entire sum, even if it is disbursed in tranches.
There are many pitfalls that can turn this smooth process into a bumpy one. Here are some of those pitfalls that you should be aware of and avoid.
The move is to align affordable housing finance flows to the increase in property costs and inflation, says Raghu Mohan.
rediffGURU T S Khurana answers readers' personal income tax queries
Home loan expert Harsh Roongta has the answer.
ICICI Bank, India's second biggest bank, has offered to lower the equated monthly installments for a large number of its borrowers by enhancing the tenure of their home loans.
In view of high prices of apartments in cities, India Inc on Tuesday asked the RBI to raise the priority sector home loan limit from Rs 20 lakhs to Rs 40 lakh at least in metros- Delhi, Mumbai, Chennai and Kolkata.
'I need 3-4 lakhs for the wedding. All prospective grooms demand a motorcycle which costs 1 to 1.5 lakhs, then you have to also give a bed, cupboard, utensils, fridge,' says Kamala, her wrinkled forehead furrowing with despair.
Decided to buy your own house? There are many pitfalls that can turn this process into a bumpy one. Here are some of those pitfalls that you should be aware of and avoid.
To avail a top up loan, factors like your repayment capacity based on your income and commitment towards any other loans other than your home loan etc, will be factored in
Tilak Varma shared his remarkable journey from a modest upbringing to shining on the international stage, driven by a childhood dream to win a World Cup for India.
As part of the IBA package, housing loans up to Rs 500,000 and between Rs 500,000 and Rs 20 lakhs would attract a maximum interest rate of 8.5 per cent and 9.25 per cent, respectively, for the first five years. To a question on possible increase in disbursal of home loans after implementation of the package, he said the numbers could be gauged in a fortnight.
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