Rising property prices and the inflation hardly leaves sufficient amount after the payment of the EMIs.
Whenever you applied for a home loan the bank or their agents gave you two options: Fixed or floating. Now you can also opt for a mix of both.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
It is clear as daylight to anyone that a charge or a cost to simply reduce interest on a floating rate loan is extortion, but this is exactly what the RBI has officially sanctioned, says Debashis Basu.
This is probably the best time for consumers to take a home loan. Interest rates have hit rock bottom and fierce competition among housing finance companies has ensured that consumers are being offered loans at very attractive rates.
Home loan seekers should consider opting for a fixed rate loan
rediffGURU T S Khurana answers readers' personal income tax queries
Home loans of up to Rs 75 lakh (Rs 7.5 million) would now be available to fresh borrowers at 10.10 per cent against the existing rate of 10.15 per cent, State Bank of India said in a statement.
Start now, and sail through your tenure like a pro!
The country's largest private bank, ICICI Bank, on Friday said it is focussing on the home loan segment as the real estate segment is witnessing a comeback after the economic slowdown.
Collateralisation of other loans and prior approval for additional leverage are things to watch out for
Contrary to the current trend of declining home loan rates, Union Bank of India has hiked interest rates for fresh home loans by 0.50 per cent across all maturities of fixed and floating rate options, effective January 1, 2004.
In order to boost the troubled housing sector, the government on Sunday said public sector banks would soon unveil a package for those seeking home loans of up to Rs 20 lakh (Rs 2 million) and promised measures that would accelerate the "growth trajectory."
Vatsal Ramaiya draws wisdom from the Bhagvad Gita to explain how to conquer your debts with Lord Krishna's Kritya Nash Technique.
Banks have outsmarted housing finance companies by cornering 65 per cent of the home loan market, which grew by a whopping 76 per cent to Rs 51,673 crore last fiscal, a Federation of Indian Chambers of Commerce and Industry survey said on Tuesday.
The easiest way to increase the home loan eligibility is to go in for the maximum tenure of repayment that a bank is willing to give.
Get Ahead home loan expert Harsh Roongta on tax benefits fo availing a home loan.
Gandhiji inspired the nation to believe in their dream. He continues to be an inspiration to each one of us by making us believe in our dreams. Make that home loan work for you and don't give up till you sign on the dotted line for owning your dream home.
With banks taking the cue from RBI to hike rates, home buyers will have to take serious measures to keep their finances under control.
The Union Bank has increased interest rates on deposits and floating rates on home loans by 0.25 per cent.
If one has to draw a parallel to a home loan, marriage comes pretty close. There is a high involvement of finances, emotions and a long time commitment. But don't let this analogy send your thought trail in a frenzy! Just like marriage, this can turn out to be the best decision of your life.
Applying for a home loan may seem scary if you go into the process unprepared, but if you have braced yourself well in advance and follow these steps you will find that getting your home loan application approved is a breeze.
Which is the best home loan? Advice from financial guru Harsh Roongta.
State Bank of India (Maharashtra and Goa), Bank of Baroda, IDBI and Allahabad Bank have cut rates in the range of 25-50 basis points. Lenders would like to see the RBI come up with some measures so that sentiments improve further.
The choice for the home buyer is clear - either get adequate life cover or a mortgage insurance product.
Here are 5 ways by which individuals can enhance their home loan eligibility.
New borrowers will benefit if banks cut their MCLR. Older borrowers' EMIs will change only when their reset date arrives
For those who find the online facility difficult, there is an electronic tutorial, and staff to assist you.
The interest rate difference should be at least 25 bps. If the existing lender gives the same rate for a fee, it may be more convenient.
Make your 'dream-home' dream come true
State Bank of India on Thursday said that equated monthly instalments on its home loans will be tweaked shortly as interest rates have gone up by two per cent in the last one year.
For the last two years, the home loan borrower has been facing the brunt of high interest rates
These decisions by NHB will come into effect immediately and will cover all housing finance companies including LIC housing finance.
Until your home loan is sanctioned, some silly mistakes on your part before making the first move can derail the most important goal of your life.
Consider prepaying or shifting but do the homework, as it makes sense or not, depending on where you've reached on the tenure.
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