State Bank of India is keen to encourage women to take home loans.
To avail a top up loan, factors like your repayment capacity based on your income and commitment towards any other loans other than your home loan etc, will be factored in
ICICI Bank, India's second biggest bank, has offered to lower the equated monthly installments for a large number of its borrowers by enhancing the tenure of their home loans.
As part of the IBA package, housing loans up to Rs 500,000 and between Rs 500,000 and Rs 20 lakhs would attract a maximum interest rate of 8.5 per cent and 9.25 per cent, respectively, for the first five years. To a question on possible increase in disbursal of home loans after implementation of the package, he said the numbers could be gauged in a fortnight.
Mukesh Ambani's Jio Financial Services (JFS) is set to seek shareholders' approval for its leasing subsidiary to acquire telecom equipment and devices worth Rs 36,000 crore ($4.33 billion) from Reliance Retail. Jio Leasing Services Limited (JLSL), a wholly-owned subsidiary of JFS, plans to enter the device leasing business, and the equipment will be deployed in broadband wireless connectivity and other services.
Home loan expert Harsh Roongta advices borrowers on points to consider before going to a home loan lender.
You need not worry about the long tenure as you can prepay the amount that is around 3-4 times your EMI periodically like once a quarter or when your year end bonus comes through.
State Bank of India, has hinted that it may consider retaining its much-talked-about 8 per cent home loan scheme, albeit with slight modifications in the product
A day after the Reserve Bank of India's monetary-tightening measures, banks on began raising interest rates, effecting the hike for the second time in a month.
The new rates will be effective from May 9.
Reduces PLR by 25 bps to 13.75% for existing borrowers.
By lowering interest rates Non-Banking Finance Companies (NBFCs) are slowly positioning themselves to become viable alternatives to traditional banks for procuring loans.
Pay EMI for the entire sum, even if it is disbursed in tranches.
The credit policy annouced by the RBI on July 31 is likely to have no impact on the home loan interest rates feel experts.
Housing loan customers may have to repay part of their borrowings or suffer very high EMIs, as there is a scurry among banks to avoid bad debts following successive interest rate hikes in the last six months.
HDFC on Thursday offered home loans to women borrowers at 9.85 per cent.
If you are planning to buy a house in the near future, make sure you start exploring pre-conditions you will need to satisfy to apply for home loan and be prepared about the same.
Servicing two EMIs will substantially reduce tax benefits on second flat.
The interest rates on housing loans are expected to go up by 25 to 50 basis points in the coming months but it would not affect demand from retail borrowers, an industry official said on Monday.
Housing Development Finance Corporation, a key home loan lender, on Monday said it is likely to increase interest rates by up to 100 basis points (bps) - 1% later this week.
There are other charges too that you need to budget for
Finance Minister Nirmala Sitharaman on Friday said the government is proposing additional tax deduction of Rs 1.5 lakh on interest paid on home loans taken up to March 2020 for purchase of house up to Rs 45 lakh.
Join Rajiv Raj of Credit Vidya on how RBI's rate cut will affect your dream of buying a home.
Partial credit card payments, high credit card debt and defaults on previous loans make lenders charge you more on home loans.
Home loan major HDFC Ltd has raised its prime lending rate by 0.75 per cent to 13.5 per cent in a bid to manage its rising cost of funds.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
The committee is considering multiple BPLRs for corporates, SMEs and retail borrowers and is likely to meet by mid-September to finalise the recommendations on the BPLR structure. BPLR is the interest rate that commercial banks charge their most credit-worthy customers.
Months after dismissing State Bank of India's special loan scheme as a gimmick, mortgage player Housing Development Finance Corporation has decided to follow the country's largest bank.
Private sector lender Axis Bank has launched a home loan product for households earning as low as Rs 8,000 a month, targeting disbursals of up to Rs 1,000 crore (Rs 10 billion) in a year's time, a senior bank official said.
Yes, you need to be safe when dealing with third party agents who act as intermediaries between you and the lending institutes.
Vatsal Ramaiya draws wisdom from the Bhagvad Gita and correlates it to how you can build a decent corpus to achieve a peaceful retirement.
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