Make sure that the person you are buying the plot from is the rightful owner.
While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
Gold prices fell to a 5-year low of less than $1,100/ounce.
The relaxation shall be available till March 31, 2021.
Follow these tips to get ready to celebrate with sweets and kites with your friends and family in your new house next Pongal.
The accumulated interest will increase the principal and you will have to pay a higher rate. Borrowers should take the restructuring plan only after they are convinced they have exhausted all other options.
Gold prices have dropped, but still they are above 70 per cent of the peak value.
This will benefit those home seekers who plan to buy properties in the range of Rs 20-30 lakh.
Home First Finance will be answering readers' home loan queries. Mail your queries to getahead@rediff.co.in with the subject line 'Home Loan Query' and we will have your queries answered by Home First Finance.
Banks have swung into action as gold prices continue to slide. Reduced loan-to-value ratio (LTV), cautious lending, and a close monitoring of the gold loan portfolio have prompted them to hedge their loan books against the reduction in prices.
Making an informed choice will help you save money and some hassles too.
Stamp duty, registration to be included in loan calculation
For the first time, consumers, including those at the so-called bottom of the pyramid, are monetising gold by taking loans from banks, offering the yellow metal as collateral, says Tamal Bandyopadhyay.
Most of the migrants do not get access to any medical facilities in government-run hospitals or dispensaries as they do not have an Aadhaar card and are not Indian citizens.
The repo rate has been left unchanged at 4 per cent, Governor Shaktikanta Das said while announcing the decisions taken by the central bank's MPC.
You can always prepay the loan and/or switch to another financier
Bringing prudence in lending to home borrowers, the Reserve Bank of India (RBI) today increased provisioning for teaser loan rates by 160 basis points, from 0.4 per cent to 2 per cent.
The measures announced by the Reserve Bank of India (RBI) are expected to hit home sales and prices are expected to correct by 15-20 per cent in the next two to three months, say real estate consultants and analysts.
Rakesh Jhunjhunwala-backed Nazara Technologies is all set to hit the primary market with its Rs 583-crore IPO on Wednesday. The diversified and online gaming firm's three-day issue will run through March 17-19 and will be entirely an offer for sale (OFS). While 5.29 million equity shares will be offloaded via OFS by some of the shareholders, Rakesh Jhunjhunwala, who owns 3.29 million shares or 11.51 per cent stake in the company as of September 30, 2020, has decided to hold on to his stake. The issue has a price band of Rs 1,100-1,101 and will be available in lots of 13 shares and multiples thereof.
Besides return and risk, investors also need to weigh the liquidity of the instrument they are putting money in
They can be used as collateral for loans and can be sold or traded on stock exchanges
Every housing finance company, and every bank with a large housing finance exposure, will see loss of volumes in this quarter.
Gold loans are a quick, easy and low-cost way to meet your immediate and emergency financing needs, but do ensure that you entrust your gold in safe hands after thorough due diligence, suggests Gaurav Gupta, founder and CEO, MyLoanCare.in.
'There is a misconception that gold is a dead asset in India.' 'Around 30 per cent of agriculture loans are collateralised by gold, Soumya Kanti Ghosh and Saket Hishikar, economists at the SBI, point out.
Borrowers who contribute over 40 per cent of residential unit's have greater willingness to pay.
This comes at a time when competition has increased significantly.
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
By consolidating borrowings, the total EMI burden and interest cost can be reduced.
Also build a contingency fund equal to 9 to 12 months of expenses.
The recently approved government scheme provides both liquidity and returns.
The current bear run has already been the second longest since 1975.
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