When you take a home loan, what are the tax benefits that you can avail of? Read on to find out more about taxation and home loans.
Lenders have lined up a number of home loan products that can fit every aspirant's annual income.
Bank credit growth is expected to moderate this financial year after a robust 16 per cent estimated for last financial year, driven by strong economic activity and retail credit demand. There are three reasons for this: a statistical high-base effect given the strong growth seen last financial year, revision in risk weights by the Reserve Bank of India (RBI), and relatively slower economic activity.
Lenders have lined up a number of home loan products that can fit every aspirant's annual income.
A six-point checklist to follow when lenders reject your home loan application.
Talking about home loan rates, there is good news for borrowers.
By evaluating their loan rate against the best available every year, borrowers can achieve considerable savings over the entire tenor, suggests Sanjay Kumar Singh.
Just in case you have surplus funds and are thinking about it, here are some pros and cons you must know...
State Bank of India on Friday launched an initiative to provide doorstep services and expedite home loans application process.
HDFC Bank on Wednesday reported a 2.3 per cent year-on-year rise in its consolidated net profit to Rs 17,657 crore for the October-December quarter, restricted by slower loan growth. On a standalone basis, the largest private sector lender's net profit came at Rs 16,735.50 crore for the period, up from Rs 16,372.54 crore in the year-ago period, but marginally down from the preceding quarter's Rs 16,820.97 crore.
Prime Minister Narendra Modi on Friday slammed the Aam Aadmi Party as an 'aapda' (disaster) for Delhi, saying this 'aapda' had taken the national capital in its grip in the past 10 years.
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.
Home loan rate for new customer is 9.9 per cent.
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.
'We tightened our risk frameworks once the Covid crisis started.' 'We are slowly lightening this as we see economic activity pick up, salaries getting restored, and people getting back into jobs.'
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.
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.
When does it make sense and when does it not?
Look at effective interest rate on home loan offers. Availing of ICICI Bank's cashback offer will mean you lose the flexibility to switch or prepay the loan, reports Sanjay Kumar Singh
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.
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.
You will be much better off buying the required plans directly from life and general insurers, experts tell Chirag Madia
How will the Reserve Bank of India's credit policy affect your loans? Will banks now charge you less interest?
The recently changed State Bank of India's (SBI's) formula to calculate home loan rates has stumped many.
Home loan cover from the lender may not be the best option
The Reserve Bank of India (RBI)'s move to bring housing loans of up to Rs 50 lakh under priority sector lending, against loans of up to Rs 25 lakh currently, is expected to provide a boost to home loan borrowers and real estate companies.
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.
Here are some of the common mistakes that most home buyers make when it comes to home loans and how to avoid them.
Most plans offer a sum assured that reduces as your outstanding home loan comes down every year.
'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.'
Analyse your financial situation before deciding on amount; compare tenure, interest rate and penalty before finalising the lender.
If you are looking to stay in the property, unnecessary delays will only increase the cost.
Home loan expert Harsh Roongta advises readers on what they should do if they are prepaying their home loans.
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