Tag Archive | "home loan"
Banks hike home, car loan EMIs
EXPECTED Inevitable after RBI raised rates to check inflation The EMI (equated monthly installment) you pay on your home or auto loan is set to rise again. ICICI Bank on Monday announced that its benchmark prime lending rate (BPLR) and floating reference rate (FRR) (that applies to consumer loans like home loans) would be raised by 50 [...]
Continue reading...RBI SQUEEZES BANKS, BUT HOME LOANS SAFE FOR NOW
Wednesday, April 21, 2010
Home loan borrowers and prospective car buyers can heave a sigh of relief. A quarter percentage point hike in signal rates by the Reserve Bank of India (RBI) on Tuesday is not big enough for banks to immediately jack up lending rates. But the honeymoon of soft rates is over, and experts said consumer loans could get [...]
Continue reading...HDFC lowers home loan rates to 8.25%
Friday, April 16, 2010
BUCKING THE TREND Follows SBI’s special offer; experts predict rise in rates Home-buyers should look to close their home loan deals by the end of this month as HDFC comes ahead to join SBI in offering special rates till end of April.In a rising interest rate envi- ronment, HDFC on Wednesday made an interesting move by [...]
Continue reading...Read this before buying a home
Wednesday, April 7, 2010
Buying home a major financial commitment Sunil had seen a lovely apartment and he was in a hurry to buy it. As he did not have sufficient money to purchase it, he settled for the lucrative loan offer from a bank. Unfortunately, after some time, he found out that he was paying more towards the loan [...]
Continue reading...SBI hikes rates on home loans
Friday, April 2, 2010
Increases Interest From Second Year Onwards, After A Teaser 8% First Year State Bank of India (SBI), the largest bank in India and one of the leading players in the housing finance market, has raised interest rates on home loans. Although the bank will continue with its 8% teaser rate — which the SBI had [...]
Continue reading...SBI may tweak its 8% home loan scheme after Mar 31
Thursday, March 25, 2010
Home-loan borrowers may yet have a reason to cheer. The country’s largest lender, 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. “Well, I suppose there can be modifications (in the products), which will be in tune with our liquidity [...]
Continue reading...Booking govt-built flats: banks lend helping hand
Tuesday, March 23, 2010
With banks stepping in and giving you time to arrange for enough cash, you may not lose the investment opportunity even if you are short on funds Every time the Delhi Development Authority (DDA) or your local development authority comes out with a housing scheme, you wish you had not just blown up that Rs2 lakh [...]
Continue reading...RBI increases repo, reverse repo rate by 25 bps, Home Loan may be hike
Friday, March 19, 2010
India’s central bank on Friday increased the repo and reverse repo rate by 25 basis points each to 5.00 percent and 3.50 percent respectively, with immediate effect. The Reserve Bank of India (RBI) said this step will anchor inflationary expectations and contain inflation going forward. “The Reserve Bank will continue to monitor macroeconomic conditions, particularly the price [...]
Continue reading...Home loan repayment reduces tax liability
Friday, March 19, 2010
You can reduce your income tax burden through the interest you pay on a home loan. Under Section 24 of the Income Tax Act, interest paid up to Rs 1.5 lakhs a year on a home loan can be set off against ‘loss’ from other heads for a self-occupied property. In case the property has been [...]
Continue reading...Select home loan provider with care
Wednesday, March 3, 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...Banks ask RBI to Clarify Pricing of Old Home Loans
Wednesday, February 24, 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...Look at some legal formalities you will have to complete before moving into your home
Saturday, February 20, 2010
Here’s a look at some legal formalities you will have to complete before moving into your home After having got the home loan sanctioned from the bank, it’s time you look at documents you will be required to submit before moving into the apartment you’ve decided to purchase. We list some of them here. Stamp duty is a [...]
Continue reading...Floating vs fixed interest rates - How loans work
Saturday, February 20, 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...CCI notice to banks on home loan penalty
Thursday, January 21, 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...Axis Bank to Offer Home Loans at 8.25 pc Irrespective of Loan Amount for 2 Years
Wednesday, January 6, 2010
Two months after it launched the 8 per cent home loan offer, leading private sector lender, Axis Bank on Tuesday came with a special scheme to give home loans at 8.25 per cent fixed rate for the first two years irrespective of loan amount. This scheme is open till March 31, 2010. After the offer [...]
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Tuesday, August 17, 2010
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