One of the major decisions revolving around purchasing a home is the type of home loan you should take. Primarily, you have to make a choice between two basic types of loans -- fixed rate home loans and floating rate home loans.
For homebuyers, the OC is not just an administrative formality but the very basis of lawful possession. Without it, the property is deemed unauthorised, exposing buyers to risks such as eviction, denial of utilities, or even demolition.
A Delhi Police SWAT commando died after allegedly being brutally assaulted by her husband, who reportedly announced the killing during a phone call with the victim's brother. The family alleges prolonged torture and dowry harassment.
The most common mistake is investing without assessing suitability and long-term implications.
Why various loans are disbursed differently...
From the best possible time to apply for a loan to the strategies you should use to get a home loan, here are some must-know tips.
The Income Tax Act, 1961 provides tax benefits for assessees that have home loans. Typically a home loan is repaid to the bank/lender in monthly installments.
Talking about home loan rates, there is good news for borrowers.
Banks are witnessing a surge in hiring for sales staff in secured segments such as home, vehicle and gold loans as compared to the recovery category, driven by a boost in business growth, and a host of regulatory measures aimed at improving ease of doing business, according to industry experts.
The recently changed State Bank of India's (SBI's) formula to calculate home loan rates has stumped many.
State Bank of India on Friday launched an initiative to provide doorstep services and expedite home loans application process.
Amid concerns expressed by the Reserve Bank of India, the country's largest lender State Bank of India on Wednesday announced withdrawal of special home loan schemes, or teaser rates, with effect from May 1.
Terming the home loans package of PSU banks highly inadequate, Assocham President Sajjan Jindal demanded that the government peg the interest rate on housing loans up to Rs 30 lakh at 6% and at 8.5% for loans above this amount.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Most plans offer a sum assured that reduces as your outstanding home loan comes down every year.
Country's biggest mortgage lender HDFC on Tuesday announced a festive offer in line with peers like SBI with home loans starting from 6.70 per cent. Last week, SBI as part of festival bonanza offered a concessional home loan rate of 6.70 per cent under its festive offer. This was followed by other lenders like Punjab National Bank and Bank of Baroda.
The interest rate being charged on a loan is reasonable given the market situation, says personal finance expert Harsh roongta. However, if one has surplus money, one should consider prepayment.
Manchester City blew a two-goal lead to draw 2-2 at Tottenham Hotspur on Sunday as a moment of magic by home forward Dominic Solanke handed Arsenal a huge Premier League title boost.
Have a query regarding your home loan? Maybe we can help. Drop us a line and our expert, Harsh Roongta, will answer it.
Home loans for amounts upto Rs 30 lakh may become cheaper. That's because the Reserve Bank of India (RBI) has reduced the risk weight -the amount of capital set aside for a loan--on home loans above Rs 20 lakh and upto Rs 30 lakhs to 50 per cent from 100 per cent earlier." Banks may want to pass on the benefit to customers in the form of lower interest rates.
The scheme, known as the 'Power Advantage Home Loan' scheme, will allow customers to lock in their home loan rate at 8.25 per cent for the first two years of the tenure followed by a floating rate.
The banking regulator, RBI, has come out with suggestions that would bring down the costs for the home loan borrowers in India and also bring in more transparency in the market.
Home loan rate for new customer is 9.9 per cent.
As a home loan borrower, it is very important to understand what a teaser loan is and what the implications in short- and long-term are.
It said that when a retiree, who withdraws amounts in the range of Rs 10,000 or Rs 20,000, suddenly withdraws huge amounts, then the bank should issue an alert.
The Supreme Court has expressed serious concerns about the rise in digital fraud, particularly digital arrest scams, and has directed the central government to develop a standard operating procedure to combat these crimes.
Close on the heels of public sector banks slashing their home loan rates, LIC Housing Finance, has announced a 1.75-2.25 per cent cut in its lending rates for home loans up to to Rs 20 lakh (Rs 2 million) from December 17.
Home loan expert Harsh Roongta advises readers on what they should do if they are prepaying their home loans.
Indians living abroad are equally eligible for housing loans from banks here but with some riders.
Are you facing problems with housing loans? If you are a first time home loan borrower, here's how you can save some money on your home loan.
Public sector banks charge 1 to 1.5 percent as prepayment penalty on the outstanding loan amount and in the case of private banks it is between 2 and 4 percent.
Here's what you must know and what you must do before switching your home loan amount from one bank to another.
Have a query regarding your home loan? Maybe we can help. Drop us a line and our expert, Harsh Roongta, will answer it.
Given here is an example explaining how the repayment of your home loan EMI reduces your loan amount during the repayment period leading up to the end of the loan tenure.
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