Following a cut in the interest rates by banks, LIC Housing Finance Ltd on Friday announced a special rate of 7.75 per cent on home loans for all terms.
It will help customers raise the eligible amount by up to 20 per cent and increase the tenure by up to seven years.
The Reserve Bank of India (RBI) has said that any disorderly adjustments in the global financial markets may result in a sharp rise in interest rates. This, in turn, will result in an increase in defaults in home loan portfolios and mark-to-market losses on investments by banks in India.
Are you a first-time home loan borrower? Here are a few tips that can help you feel at ease.
GE Money and international mortgage player Wizard announced on Thursday a joint venture 'Wizard Home Loans' that will offer 9.99 per cent interest rate on home loans to consumers. The prevailing market rate for is between 11 per cent and 12 per cent.
Where are interest rates expected to go from here? What should the new home buyers do? What should the existing home buyers be aware of?
Public sector banks are likely to announce a 50 to 100 basis point cut in interest rates on home loans up to Rs 20 lakh. The government is also considering an interest subvention for loans below Rs 5 lakh.
Home loan interest rates are likely to increase in the next six months. Should this be a cause enough for you to prepay your home loan?
As part of proactive management of mortgage portfolios, some banks have started asking customers uncomfortable with the substantial increase in EMIs to make pre-payments of around Rs 1 lakh.
ICICI Bank, the country's second largest bank, has sold roughly 45 per cent of its sticky home loans to the Asset Reconstruction Company India Ltd (Arcil) in a first step towards creating a market for retail loans that have turned bad.ICICI Bank sold Rs 360 crore of non-performing home loans at a price around the book cost, confirmed Rajiv Sabharwal, senior general manager, ICICI Bank.
SBI home loans will now be available under two slabs -- under Rs 75 lakh (Rs 7.5 million) and above Rs 75 lakh.
ICICI Bank on Tuesday said it has witnessed a slowdown in home loan segment in the current fiscal, following the high realty prices in certain markets.
IDBI Bank on Thursday said that its home loan portfolio size will cross Rs 5000 crore (Rs 50 billion) by the end of this fiscal.
You would find NBFCs more willing to lend even if you have a poor credit score, says Adhil Shetty
The sharp rise in home loan rates of private sector banks is forcing their customers to switch loyalties.
In a chat with readers Get Ahead tax expert Mahesh Padmanabhan advised them on how to claim tax deduction on HRA and home loans taken by salaried employees.
Weird as it may sound, as far home loans in India are concerned, floating can be fixed and fixed can be floating.
NBFCs are allowed to include registration, stamp duty
The home loan scheme offers a discount in the interest rate for the first three years. The interest rate structure of the scheme remains unchanged, said a top SBI official.
Offset home loans are available under different names. But do you know if they are beneficial to you or not? Read on.
This is the first time in over two years that ICICI Bank has reduced any of its lending rates.
For home loans up to Rs 30 lakhs (Rs 3 million) for 20 and 25 year period, the interest rate has been increased by 0.5 per cent to 11 per cent against 10.5 per cent, SBI said. Equated Monthly Instalment for 25 years would go up from Rs 945 to Rs 980 per lakh while for 20 years EMI would go up by Rs 35 to Rs 1,035. Housing loan with maturity between 10 and 15 years has gone up to 10.75 per cent. EMIs under these maturities would go up as much as by Rs 35.
Are you worried about your home loan EMIs? Get Ahead reader Anil Mishra suggests three ways that may help you overcome your EMI blues.
High interest, inflation and grim job scenario result in repayment hurdles.
Banks offer to extend repayment tenures up to 25 yrs.
Banks to also charge 50-100 bps more for a second home.
According to recent finance ministry data that captures the performance of public sector banks, instances of home loan defaults contributing to gross non-performing assets was the highest in the category of loans up to Rs 200,000.
The central bank said such loan products, popularly called 80:20 or 75:25 schemes, are likely to expose the banks as well as their home loan borrowers to additional risks.
Banks are starting to fall in line with the Reserve Bank of India's position on so-called teaser home loans. Even as the country's largest lender State Bank of India stood its ground, several other banks have said they could go slow on teaser loans -- home loans bearing an introductory lower interest rate for a stipulated period of time.
Less than a week after its teaser home loan scheme expired, HDFC has re-launched it at slightly higher rates. And, SBI is also likely to extend its own teaser rate scheme, due to expire on September 30, a top official said on Monday.
With interest rates rising there are doubts if teaser rate home loans offered by banks will come to an abrupt halt.
Existing and new customers will find it easier to manage or raise loans as banks start cutting rates.
To cater to home loan borrowers, housing finance companies and banks offer a variety of repayment options to suit an individual's need.
rediffGURU Anil Rego answers readers' personal income tax queries.
The finance minister clarified that indexation benefits offered until April 1, 2001 would be protected. This means older properties, including legacy assets, would benefit.
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