There are other charges too that you need to budget for
A Reserve Bank panel has suggested a benchmark floating interest rate, especially or home loans, to bring greater transparency in the pricing of credit.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
With public sector banks reducing interest rates on home loans up to Rs 20 lakh (Rs 2 million), housing finance companies (HFCs) might be under pressure to follow suit in order to stay competitive.
'Loan approvals have increased at a much higher pace. And this growth has been driven by retail, not project finance,' says R R Nair, director and chief executive, LIC Housing Finance.
The biggest private sector lender, are swarming the market with discounts and special offers
Home loan protection insurance is the perfect tool to protect your family against home loan liability and subsequent default.
Private sector lender Axis Bank has launched a home loan product for households earning as low as Rs 8,000 a month, targeting disbursals of up to Rs 1,000 crore (Rs 10 billion) in a year's time, a senior bank official said.
'The rise in SIP contributions has created a pool of long-term MF assets that can be pledged for loans.'
Some bankers are of the view the move will also help lenders meet their priority sector commitments as a large part of their housing loan portfolios comprise of loans under Rs 25 lakhs.
ICICI Bank is planning to increase its home loan rates by 50 basis points "anytime before the end of the current fiscal".
While most households take a long-term loan, they are keen to de-leverage and pay off the loan before the completion of the term.
The government should provide home loan up to 25 lakh at a lower interest rate of 5 per cent to the people of the middle class, a prominent realtors' body appealed to the government against the backdrop of soaring home prices. G Hari Babu, president of the National Real Estate Development Council (Naredco), in an online interaction with Business Standard, said that the middle class in India accounts for roughly 30 per cent of the total population and is dependent on rental accommodation.
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
The CBI has filed a chargesheet against 17 people, including four Chinese nationals, and 58 companies for their alleged roles in a transnational cyber fraud network that siphoned off over Rs 1,000 crore.
Happy days are here again for home buyers as the bank freezes the rate for a year.
Housing finance major HDFC on Thursday lowered its home loan rate to 8.25 per cent for the first year in its new dual rate scheme, commonly known as teaser loans, applicable on fresh loans.
Borrowers should consider switching from an MCLR-linked to a repo rate-linked loan.
rediffGURU T S Khurana answers readers' personal income tax queries.
Predicting interest rate cycles can be difficult when the economy is not in ship shape. In such a situation, opting for a hybrid loan may be the perfect solution to help you enjoy the benefits of fixed and floating interest rate.
You can always prepay the loan and/or switch to another financier
The new rates will be effective from May 9.
File a written complaint with the bank's grievance redressal officer and secure an acknowledgement.
The bank also announced that it will reduce its external benchmark linked lending rate as well as repo linked lending rate by 40 basis points from July 1.
Home loans: Take a mix of fixed and floating rates, if your risk appetite is low.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
The bank has targeted to disburse an additional Rs 500 crore (Rs 5 billion) of home loans by April end with the introduction of the new scheme, a statement said in Mumbai on Thursday. Lending rates for loans between Rs 500,000 and Rs 20 lakhs would now be offered at eight per cent as against 9.25 per cent earlier, the bank said.
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
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
The move is to align affordable housing finance flows to the increase in property costs and inflation, says Raghu Mohan.
Banks typically fund about 70 per cent to 80 per cent of the cost of a property
HFCs and banks expect a drop in demand for housing loans in the short-term.
Over a five-year period, the benefit of a sharp drop in interest rates would mean saving Rs 76,880 -- a significant number. But if the rate cuts are slimmer, say 25 bps or the number of years left is barely one or two years, shifting may not make too much sense.
Financial services giant HDFC Bank, carrying a brand value of $44.9 billion, has surged past IT consulting behemoth Tata Consultancy Services (TCS) to reclaim its crown as the country's most valued brand, according to the 2025 Kantar BrandZ Most Valuable Indian Brands report.
Go for a fixed rate," your banker is likely to insist if you enquire about a home loan. But floating is what makes sense at present
The Punjab National bank on Friday announced 0.25 per cent cut on interest rates for home and car loans, effective from Saturday, September 23.\n
Here are a few guidelines on how to select a housing finance company.
Finance Minister Nirmala Sitharaman on Friday said the government is proposing additional tax deduction of Rs 1.5 lakh on interest paid on home loans taken up to March 2020 for purchase of house up to Rs 45 lakh.
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