Archive | Loans RSS feed for this section
Base rate clouds home loans
SHAKY GROUND Banks, fearing lending rates surge, ask RBI to clarify We are yet to get clarification from the RBI if home loans would also be linked to the base rate M . S . SUNDARARAJAN Commercial banks are concerned over the Reserve Bank’s new interest rate system under which lending rates are to be linked [...]
Continue reading...ICICI Bank withdraws fixed rate home loan scheme
4. March 2010
HDFC, ICICI drop cheap home loans In a clear signal of a rising interest rate regime, country’s largest private sector lender, ICICI Bank, today said it has hiked its auto loan rates by up to 0.5 per cent and withdrawn its 8.25 per cent special home-loan scheme. “Auto loans rack rates have been raised by 0.25-0.5 per [...]
Continue reading...Select home loan provider with care
3. March 2010
Imagine a situation where you have identified a house you like to buy. You walk into a bank, provide some identification and the front-office executive offers you a special discounted rate based on your credit score thrown up by the bank’s computer. Not just that, the bank also feeds in details of the property that you [...]
Continue reading...Central Registry to simplify loan process
27. February 2010
The government is contemplating on setting up a Central Registry office for home loans. The Central Registry will equip the lender better to make a fair assessment of the risk undertaken while providing finance against property, thus making lending easier and safe. The country is moving closer to a Central Registry for equitable mortgages. Once [...]
Continue reading...Banks ask RBI to Clarify Pricing of Old Home Loans
24. February 2010
Banks have sought clarity from RBI on pricing of old home loans once the new ‘base rate’ regime sets in. Loan agreements, stretching for 15-20 years, have no provision for replacing the prime lending rate (or PLR) — the anchor interest rate to which the floating rates are linked. However, RBI has told banks to [...]
Continue reading...Floating vs fixed interest rates - How loans work
20. February 2010
There are two interest payment options you can choose from when applying for a home loan — fixed rate and floating rate. A fixed rate is where the rate of interest is fixed throughout the tenure of the loan. Generally, most banks keep the rates fixed for a maximum of 5 years. A floating rate is where [...]
Continue reading...Case study - Taking a loan for that second home
20. February 2010
Tarun is planning to buy a second house worth Rs 45 lakh with a home loan of Rs 36 lakh. He already has a flat that is worth Rs 40 lakh for which he has taken a loan of Rs 32 lakh three years ago. His income is Rs 1.2 lakh a month. He is [...]
Continue reading...Loan special - Home loan tax implications
20. February 2010
Both the principal and the interest components of home loans offer attractive tax benefits Availing a home loan does not just make you the owner of a house, it also brings with it attractive tax benefits.Under section 80C of the Income Tax Act, investments in specified instruments up to Rs 1 lakh annually are deductible from [...]
Continue reading...HDFC increased special Home Loans scheme
12. February 2010
HDFC Home Loans Special Plan period has increased by end February. This plan was before the bank until February 12. Under this scheme It gives 8.25 percent subsidized loan. Bank says that this plan will be for all new customers and may be approved by March 31 Lonko. HDFC’s managing director, Renu Sood is confirmed.
Continue reading...Low rates on home loans may end soon
12. February 2010
The special invitational or teaser rates for new home loans, which were less than those offered to earlier customers are set to be withdrawn. This could mean a hike of up to 2% in interest rates offered by both private and public banks within a month. The withdrawal of the offers, which typically cover the first [...]
Continue reading...Banks Turn Down RBI’s Suggestion on Cheaper Home Loans to Existing Customers
11. February 2010
Amid a debate over teaser rates, bankers are believed to have turned down the RBI’s suggestion to extend the cheaper home loans to existing customers saying that the move will impact their bottom lines. Banks, led by State Bank of India, under special schemes offer home loans at lower interest (teaser) rates to the new [...]
Continue reading...Axis Bank Withdraws its Home Loan Scheme 2 Months before Schedule
9. February 2010
The increase in the cash reserve ratio (CRR) has started taking a toll on interest rates, with Axis Bank withdrawing its teaser home loan scheme two months before schedule. India’s third-largest private bank had launched a fixed-cum-floating rate home loan scheme on January 6. It offers 8.25 per cent interest rate for the first two [...]
Continue reading...RBI rules out further rejig of realty loans
9. February 2010
The Reserve Bank of India (RBI), worried about soaring asset prices, has ruled out one more round of restructuring of bad real estate loans which may increase non-performing assets of banks, but bring down prices of homes as developers sell off properties to pay lenders, said at least two people familiar with the matter. “Let them [...]
Continue reading...CCI notice to banks on home loan penalty
21. January 2010
CCI has found substantial evidence that banks are colluding to fix penalty The Competition Commission of India (CCI) has issued notices to 20 banks and the Indian Banks’ Association (IBA) to explain why they charge a penalty for foreclosing housing loans. “We have given show-cause notices to 20 private and public sector banks as also IBA on [...]
Continue reading...RBI Expresses Concern Over Home Loan Rates
18. January 2010
India’s banking regulator — the Reserve Bank of India (RBI) — has expressed concern on banks offering home loans with teaser rates, or schemes where monthly instalments rise after the initial years. Its worries stem mainly from the fear that borrowers may subsequently find it tough to repay the loans once interest rates go up [...]
Continue reading...
- NOIDA, Greater Noida Flat Booking : but a little cautious
- Delhi : 1000 unauthorized colonies will be regularized soon
- 275-metre ritzy tower to come up in Prabhadevi
- DLF changes tack in city realty market
- MMRDA clears land for 50,000 rental flats
- Gudi Padwa fails to bring cheer to realty market
- Noida Extension is all set to become Delhi NCR’s next budget housing hub
- Ghaziabad : Residents get raw deal from builders , They allege many promises unfulfilled
- Technopark ties up with group of banks for funding
- Ambuja Realty plans Rs.1,065 crore investment
8. March 2010
0 Comments