Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
It makes sense to shift to a home loan provider offering a lower interest rate or make occasional prepayments by using bonuses or other windfalls, says Sanjay Kumar Singh.
SBI's home loan portfolio has recorded a 73.86 per cent growth against Rs 623.38 billion as on September 30, 2009
SBI home loans are now cheaper by 0.50-1 per cent depending on loan maturities and amount of loan. The bank also gives discount if the salary account is with the SBI and further discount if a higher margin is available. The interest rates on new car loans and two-wheeler loans have been reduced by 1 per cent depending on the amount and maturity of 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.
Rate cut, increase in limit, withdrawal of processing charges are some of the pluses.
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.
State Bank of India, has hinted that it may consider retaining its much-talked-about 8 per cent home loan scheme, albeit with slight modifications in the product
Happy days are here again for home buyers as the bank freezes the rate for a year.
Home loans also pose lower bad-debt risks for the banks than corporate loans.
If you have availed a home loan from an NBFC, you can shift your existing home loan to a bank and benefit from the MCLR regime, suggests Ratan Choudhary, head - home loans, Paisabazaar.com.
Have a query regarding your home loan? Maybe we can help. Drop us a line and our expert, Anil Rego, will answer it.
The bank has increased its spreads or mark-up over base rate paid by a borrower by 0.10 per cent.
Lenders have lined up a number of home loan products that can fit every aspirant's annual income.
Cuts loan rates for third homes to regular rates.
Lenders have lined up a number of home loan products that can fit every aspirant's annual income.
The new rates will be effective from May 9.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers your home loan queries.
Close on the heels of HDFC Bank, state-owned State Bank of India today hiked fixed interest rates on home loans by 0.25-0.50 per cent while keeping the floating interest rates intact.
Bank to argue with the Reserve Bank that new norms don't apply to floating rate schemes.
Private sector lenders ICICI Bank and Kotak Mahindra on Tuesday announced low rates of 8.25 per cent and 8.49 per cent respectively for home loans, intensifying the cut-throat competition sparked by SBI and HDFC.
The growth in housing loans had fallen from a high of 31.2 per cent in December 2006 to 4.1 per cent in March 2009.
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.
Housing finance major HDFC and state-run Punjab National Bank on Tuesday announced up to 25 basis points increase in their lending interest rates, making their new and old loans expensive for consumers. The revised rates would be effective from March 1. Mortgage lender HDFC has increased its retail prime lending rate by 25 basis points to a minimum of 9.20 per cent.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
BoB's offer of a lower home loan rate to customers with credit scores of 760 and above makes it incumbent on everyone to pay heed to this all-important number.
'If the new rate is lower than your current rate, ask your bank to shift you to it.' 'This can be done by paying a fee of Rs 5,000 to Rs 6,000.'
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.
ICICI Bank on Tuesday slashed home loan rate for both existing as well as new borrowers by 0.25 per cent.
The borrower is the real winner. The home loan rate war announced by HDFC and SBI is indeed good news for those who are looking out to buy a home.
There will be an automatic reduction in interest rates of all floating rate loans anytime soon.
Tata Capital will offer home loans at lower rates to women borrowers, on the lines of similar offerings being made by state-run institutions like SBI and LICHF.
You will be much better off buying the required plans directly from life and general insurers, experts tell Chirag Madia
Home purchase affordability has improved in the first half of calendar year (CY) 2025, after the RBI reduced the repo rate by 100 basis points (bps), according to real estate consultancy Knight Frank India.
Months after dismissing State Bank of India's special loan scheme as a gimmick, mortgage player Housing Development Finance Corporation has decided to follow the country's largest bank.
HDFC, the pioneer, ICICI, the game-changer, and SBI, the original teaser, turned the market on its head.
The biggest private sector lender, are swarming the market with discounts and special offers
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
They do all the running around, including negotiating with the new lender
As yields on 10-year government bonds rose from 6.65% in April 2017 to around 7.50% now, liquidity pressures have increased the cost of funds for housing finance companies.
