If you are looking to stay in the property, unnecessary delays will only increase the cost.
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.
A businesswoman from Gujarat tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
'Consider your household's financial health and all your other goals.' 'Buying a house might seem like an urgent goal, but it is rarely the only one.'
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.
Home loans also pose lower bad-debt risks for the banks than corporate loans.
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.
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.
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.
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.
A few important factors to keep in mind while applying for a home loan, and strategies to manage it, whatever your age.
Have a query regarding your home loan? Maybe we can help. Drop us a line and our expert, Harsh Roongta, will answer it.
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.
Each problem is discussed in detail and appropriate remedies are mentioned along with it.
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.
Tips to help you save money before, while and after taking the loan
Why various loans are disbursed differently...
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
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.
The eligibility is calculated on the basis of repayment capacity of the applicant on a monthly basis.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
Paying higher EMIs on your home loan? Don't fret. Here's a simple way to get lower interest rate on your home loan.
Balance-level delinquencies in the credit card segment saw a 17 basis points (bps) year-on-year (Y-o-Y) rise in the quarter ending June 2024 (Q1FY25). In all other credit segments, including personal loans, delinquencies declined even as retail credit growth moderated, consequent to banks tightening the supply of credit to the unsecured segments, a report by TransUnion CIBIL said on Monday. Data shows that balance-level delinquencies, measured in terms of 90 days or more past due, in the credit card segment stood at 1.8 per cent in Q1FY25- highest among all other credit segments.
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 interest rate scheme where 8 per cent is frozen for one year may not actually be as profitable as it appears upfront.
In an online chat with Get Ahead readers, Rajiv Raj of CreditVidya.com answered home loan queries.
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After RBI's missive on proxy lending to builders, it's time to reshuffle.
Have a query regarding your home loan? Maybe we can help. Drop us a line and our expert, Harsh Roongta, will answer it.
Indians living abroad are equally eligible for housing loans from banks here but with some riders.
With ICICI Bank amongst country's three topmost lenders already offering better home loan rates to existing customers post RBI's 0.5 per cent cut in repo rate in April, competitors too are likely to follow suit.
Here are some pointers that should serve as red flags for you
ICICI Bank, one of India's leading home loan providers, on Monday announced a reduction in interest rates on its adjustable (floating) rate home loan products.
Deduction on home loan interest cannot be claimed when the house is under construction
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