Here, we have evaluated how home loan seekers can enhance their eligibility by selecting a higher tenure.
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.
A loan agreement is a 'contract' entered into between the borrower and the lender (banks and financial institutions) that regulates the terms of a loan. The loan agreement comes into picture immediately after the bank appraises your credit and the property that you have identified.
Are fixed rate home loans really fixed? There's more to it than meets the eye.
In case the repo rate keeps trending downwards, borrowers can expect a downward revision of their MCLR-linked loans.
Will offer lower rates on home loans till end of 2012.
Cuts loan rates for third homes to regular rates.
The income tax exemption for interest payment of home loans is likely to be increased to Rs 2.5 lakh (Rs 250,000) for the upcoming year.
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
The notice requested Rashid or a representative of his to appear before the district expenditure monitoring committee within two days to address the discrepancy and ensure timely submission of the expenditure report to the Election Commission of India.
Public sector banks on Monday announced that home loans up to Rs 5 lakh (Rs 500,000) would be given at a maximum interest rate of 8.5 per cent, while those between Rs 5 lakh and Rs 20 lakh (Rs 500,000 and Rs 2 million) would be offered at 9.25 per cent.
Get Ahead reader Sunil Agarwal tells you how a a low EMI can reduce your stress levels.
ICICI Bank on Tuesday slashed home loan rate for both existing as well as new borrowers by 0.25 per cent.
Canara bank slashed interest rates for home loans by 25 basis points.
Despite these advantages consider your options carefully and make a decision based on your abilities and your financial goals, says Abhishek Agarwal.
Has your home loan lender increased your loan period without informing you? Has the lender done this against the agreement you signed with the bank? What should you do then? Read this.
Ahead of acting finance minister Pranab Mukherjee's meeting with public sector bank chiefs on Monday, the government has asked state-owned lenders to submit data on home loans sanctioned by them since December 15.
Wait for some days, as other lenders are likely to follow suit. You can also negotiate for a lower rate before deciding on a change of bankers.
Faced with an increase in defaults on home loans, banks are beginning to feel the 'bite' after growing their portfolios at breakneck pace in the last three years, according to State Bank of India Chairman O P Bhatt.
In a chat with readers on July 1, home loan expert Harsh Roongta said readers must go for a home loan now if they are planning to buy their dream homes.
Is there a correction in home loan interest rates, or is it just an off-season blip?
The new DDA flat buyers, who will pay between Rs 700,000 and Rs 77 lakhs (Rs 7.7 million), will gain from the 9.25 per cent interest rate ceiling on new home loans of up to Rs 20 lakhs (Rs 2 million). But a majority of the existing borrowers of private and public sector banks and housing finance companies will miss out on the government-driven initiative.
It is believed that removal of foreclosure charges or prepayment penalty on home loans will lead to reduction in the discrimination between existing and new borrowers and the competition among banks will result in finer pricing of home loans with the floating rate.
A critical factor that can ensure easier and hassle-free access to home loans is keeping a watchful eye on your Credit Information Bureau India Ltd (CIBIL) Report and CIBIL TransUnion Score.
Finance Minister P Chidambaram on Wednesday asked public sector banks not to increase interest rates for home loans up to Rs 30 lakh (Rs 3 million) and lend more to consumers even as the Reserve Bank of India is trying to moderate credit growth to contain inflation.
Leading bankers expect the number of transactions to fall 30 to 35 per cent as buyers wait for a price correction in real estate.
How well do you know your home loan. Take this quiz and find out.
What should you do if you have too many loans on you and you are unable to service them? Financial planning expert Vetapalem Sridhar has the answers.
The bank raised it floating rates from 12 per cent to 13 per cent, with the fixed rate being raised to 16.5 per cent from October 10.
Though the Reserve Bank of India decided to reduce the risk weight for home loans between Rs 20 lakh (Rs 2 million) and Rs 30 lakh (Rs 3 million) to 50 per cent, the possible benefit for banks seems to be more than neutralised by 75 basis point rise in cash reserve ratio and increase in the cost of resources, which is linked to yields on government bonds and competition, bankers said.
The main culprit is the lack of transparency that your lending bank of housing finance institute employs in determining home loan rates.
Rising rates prompt extension by 10 more years; others may follow suit.
Bank will charge floating rates of interest from January.
How housing finance companies evaluate individuals who are employed 'on contract basis' and the rationale behind it.
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