Leading home loans provider LIC Housing Finance on Friday cut interest rates for new loans by 0.5 per cent effective from August 1.Another home loan lender HDFC has also cut interest rates on loans between Rs 30 lakh and Rs 50 lakh by 0.50 per cent from August 12.
Say cost of funds too high to lower lending rates.
The finance minister's tax giveaways are what have saved tax-payers from the impact of inflation and higher home loan rates.
They do all the running around, including negotiating with the new lender
If you have bought a home along with your family members as co-owners then can they avail of the tax benefit on interest paid? Tax expert Mahesh Padmanabhan answered tax related queries in a chat with Getahead readers on January 9.
Borrowers wanting to prepay home loans can look forward to some relief as RBI on Tuesday indicated that it would scrap prepayment penalties charged by banks.
It is important to know that the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act empower the bank to take possession of the property that is mortgaged to them, to recover the loan outstanding from the borrower.
Treasury gains helped ICICI Bank post a nearly 10 per cent increase in the consolidated net profit for the April-June quarter at Rs 11,696 crore on Saturday. Growth in the core income slowed for the country's second largest private sector lender, but the treasury operations helped it report a 14.62 per cent rise in its post-tax profit at Rs 11,059 crore on a standalone basis. The core net interest income (NII) growth came at a multi quarter low of 7.3 per cent to Rs 19,553 crore for the reporting quarter.
Paying your increasing home loan EMIs can be quite a task to meet. Here are a few dos and don'ts that can help you sort out your loan problem.
Before taking the plunge and being a co-applicant, make sure that you are aware of the rights and responsibilities that come with it!
The change comes into effect from Monday, a HDFC spokesperson told PTI in New Delhi. This reduction will be on fresh loans and applicable to all disbursements up to October 31.
HSBC India has announced a new home loan package offering to pay back part of the interest to borrowers. Yes, like the foreign bank claims, it is a first in the home loans business. But if one takes a careful look, it might not be such a big deal after all.
Is it the right time for you to invest in your first home? Expert Harsh Roongta tells you what to do in such a situation and several others involving home loans.
Readers' queries on when, why and how to change their home loan lenders answered.
Do you think your bank is amortising your home loan correctly? You need to keep a check on this.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Home loan expert Harsh Roongta tells you how to make the right choice.
The worst thing to do at this time is to switch to a fixed-rate loan.
After banning 0% interest rate, central bank could crack down on EMI waiver too.
'Look not just at the interest rate but also the processing fee.'
Homework you must do before approaching a bank
The introduction of the base rate system for lending has caused a lot of furore in borrowers' minds. Here's clearing all the confusion.
Before you sign on the dotted line, ask your home-loan provider a few tough questions.
The central bank last year had raised key policy rates which resulted in tightening of liquidity, a step aimed towards addressing inflation concerns.
Usually buyers get bogged down by details. How wonderful it will be if someone can assure us with finances and all we have to focus on is to find a nice home.
Home loan expert Harsh Roongta's take on where the home loan interest rates are headed after the Reserve Bank of India recently cut the cash reserve ratio by 0.25 per cent.
Can one claim both HRA and home loan benefits? This seems to be a confusing factor for most tax payers.
After the Reserve Bank of India (RBI) raised key policy rates by 25 bps in the third quarter review of monetary policy, banks have started raising lending and deposit rates.
A key player in the home loan market, HDFC on Thursday said it would hike housing loan rates by another 0.50 per cent this month-end or early March.
With banks offering competitive interest rates, no processing fees, EMI waive offs, cash backs and an additional deduction of Rs 1 lakh on interest amount, home loan customers need to make merry
If one is an existing borrower or looking for a loan, there's reason for cheer.
As liquidity eases and inflation turns negative, Dewan Housing Finance Corporation on Friday said it expects home loan rates to come down by 25-50 basis points in the near-term.
While interest rates on home loans have come down by four per cent some existing borrowers end up paying fatter EMIs. Here's how you can change all this.
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