The lower interest rates charged by the State Bank of India (SBI) are contributing to a growth in its home loan portfolio at a time when the sky-rocketing real estate prices have slowed the credit demand. While fresh loans for buying houses are growing albeit at slow pace, buying out other banks' home loans is helping the public sector bank to strengthen its home loan book.
India's top home loan lender HDFC on Tuesday hiked lending rates by 0.50 per cent in the wake of Reserve Bank hiking key short term interest rates.
Simple to follow, these tips can go a long way in increasing how much home loan you can get.
Do you know what a step-up home loan is? Why is it good for young professionals? Home loan expert Harsh Roongta has the answers.
Besides a good CIBIL score, lenders also look at the applicant's ability to pay off the additional debt burden. This is where Yash had a problem.
A teaser loan is one where the lender offers a slightly lower rate in the initial years and then charges higher rates in later years.
Always be clear about the clauses and conditions laid down by your bank or housing finance company. If at all you skip this task then you may face a major problem during the entire tenure of your loan or may be even beyond that.
Following are certain important things that lenders consider while processing loans to self-employed...
Home loan interest rates are getting costly again. How do you cope with rising prices?
Tax benefits can be claimed on both the principal and interest components of the home loan as per the Income Tax Act. These deductions are available to assesses, who have taken a loan to either buy or build a house.
Normally, all banks provide home loans up to 60 times your monthly net income. All sounds good till the time you submit your documents and pay loan processing fees.
Here's a dummy's guide to the home loan fee maze
Less than a week after Housing Development Finance Corporation re-introduced its teaser home loan scheme, the country's largest private sector lender, ICICI Bank, has followed.
We evaluate some significant factors that you must consider while switching your existing home loan to another lender
A few steps that will help ease your home loan transfer to another lender.
Linking all new floating rate loans to an external benchmark won't impact existing borrowers, so customers who have taken long-term home loans recently should watch things carefully, say Joydeep Ghosh and Sanjay Kumar Singh.
SBI fixed its base rate, the minimum lending rate, at 7.5 per cent which would replace its benchmark prime lending rate from Thursday.
Harsh Roongta, CEO, Apnapaisa.com, throws light on the frustrations faced by India's young working population when they try to avail of home loans to buy a house in their city of birth even as they work out of another city.
Do you aspire to purchase a house? Are you depending upon a bank or housing finance company to fund your needs? Is the same rate of interest charged by two different lenders confusing you? You are at the right place.
Co-signing a loan is a huge responsibility and can impact you greatly. Here's what you need to know before your generous streak gets the better of you!
Have a query regarding your home loan? Maybe we can help. Drop us a line and our expert, Anil Rego, will answer it.
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.
It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
Contrary to popular opinion, there is no overall restriction of Rs 1,50,000 on the interest payable on a loan taken to acquire/construct a house property or in respect of more than one property.
'The RBI's MPC will maintain the current policy rates (6.50%) at the policy meeting, given ongoing inflationary pressures.'
he home loan market is brimming with diverse home loan products which cater to different needs of individual customers.
'They take care of the problem: How can I ensure my child's education and other goals are not compromised, even if I am not around?'
Country's largest lender State Bank of India on Wednesday said it will extend its 8 per cent concessional home loan scheme, popularly called teaser rates, by another 3 months till December.
The implementation of MCLR from April 1 has already led to a rate cut of 10 basis points on home loans by the country's largest bank, State Bank of India, and others.
New borrowers should go for banks over housing finance companies as the new benchmark -- MCLR -- is more transparent.
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