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The shorter the tenure, the better for a borrower
Source: The Times of India Jun 18, 2016
Some adept financial planning will help you decide on the right amount to borrow, and repay your home loan at the minimum interest cost. Neeti Trivedi, a certified finance planner, has some tips for prospective borrowers. ... more
An easy guide to investing in property at pre-launch stage
Source: Financial Chronicle Jan 22, 2016
Buying a home is a costly process at the best of times. Making the down payment alone can consume a normal middle class family's entire savings. A home loan sets the stage for anything between 10-20 years of debt and paying the EMIs on a home loan can take up a significant part of the monthly income. It is therefore natural for homebuyers to look for every possible means to reduce the financial burden of buying a home. ... more
India Infoline Housing Finance cuts home loan interest rate by 25 bps to 9.90%
Source: The Financial Express Apr 16, 2015
Private sector housing finance company India Infoline Housing Finance Ltd (IIHFL) has cut the interest rate on its home loans by 25 basis points to 9.90%, from 10.15% earlier. The reduced rates will be applicable with immediate effect. ... more
Home loan: RBI reduces burden on buyers, industry calls move ‘insufficient’
Source: Financial Express Mar 16, 2015
If the Budget turned out to be a non-event for the real estate sector except for benefits to Real Estate Investment Trusts (REITs), the Reserve Bank of India last week offered some relief to home buyers, especially those belonging to the low-income category and for houses that may fall in the affordable category or in Tier II and Tier III cities. ... more
Hey NRIs - Here is how to manage loan liabilities in India
Source: Feb 18, 2015
Taking a loan in India for purchasing a residential property is not a tough task any more for NRI. They should take advantage of advancement in technology to manage their loan liabilities in India. ... more
Reserve Bank of India eases rules for low-cost home loans
Source: The Economic Times Dec 01, 2014
The Reserve Bank of India has eased norms to fund low-cost housing by permitting banks to extend loans against long-term infrastructure bonds. The Reserve Bank of India however barred lenders from providing loans against long-term infrastructure bonds issued by other banks. ... more
Banks directed to bring in more innovation in home loan products, deposits
Source: The Hindu Business Line Aug 20, 2014
RBI has asked banks to bring in more financial innovation into the home loan products and deposits induced by way of savings. Speaking at a Real estate banking conclave, R Gandhi, Deputy Governor at RBI said, “There needs to be financial innovation with respect to loan products and one such product would be savings induced to home loan or a home loan deposit.” ... more
ICICI Bank announces cut in home loan rates
Source: The Times of India May 21, 2014
ICICI Bank, the largest private sector lender, has announced a 0.10 per cent reduction in home loan rates for a limited period, bringing them on par with bigger rival State Bank of India. ... more
How to choose between bank, housing finance company
Source: Business Standard Apr 07, 2014
Bringing 20 per cent of a property’s cost to the table isn’t normally easy for a home loan borrower. Then, there is an additional cost of stamp duty and house registration, easily around Rs 3 lakh for a house costing Rs 50 lakh in Mumbai. ... more
Important facts you don’t know about home loan
Source: The Times of India Apr 03, 2014
Home loan is the driving force behind the Indian residential real estate market. Without home loan, a large portion of the Indian population would be forced to live in rental houses. Because of this facility, one can be a proud home owner without having enormous amount of ready cash. Since, this plays a vital role in sustaining the real estate market not only do home buyers depend on home loans, but developers as well. ... more
Home loans grew 20% in 2013-14, says NHB chief
Source: The Hindu Business Line Apr 02, 2014
Banks and housing finance companies (HFCs) together logged 20 per cent growth in home loans in FY2014, the same as in the previous year, according to RV Verma, Chairman and Managing Director, National Housing Bank. In absolute terms, home loans disbursed by banks and HFCs collectively increased by Rs. 1. 60-lakh crore in FY2014 to Rs. 9. 60-lakh crore as at March-end 2014. ... more
Realtors left wringing hands with home loans set to cost more
Source: The Hindu Business Line Jan 28, 2014
Hit by slowdown in sales coupled with few new launches, the real estate sector says it is disappointed by the Reserve Bank of India’s move to hike the repo rate. The move will increase lending rates for customers and borrowing rates for developers, they say. ... more
Lower home loan rates may not lower EMIs soon
Source: The Economic Times Dec 26, 2013
Many home loan customers are hopeful of a substantial reduction in EMIs in 2014. The recent decision of State Bank of India, ICICI Bank and HDFC to lower their home loan rates on the back of RBI's decision to hold key policy rates has further fuelled expectations of a meaningful easing of interest rates in the coming year. Karthik Srinivasan, senior vice-president and co-head, financial sector ratings, Icra, believes interest rates will head downwards in the second half of 2014. ... more
Tax benefits of taking a home loan
Source: The Times of India Nov 27, 2013
Interest paid on home loan is allowed as deduction u/s 24(b) of the Income Tax Act while calculating income from house property. If the house is self occupied, the maximum amount of deduction is Rs 1,50,000. However, if the property is rented out, total interest paid on the home loan is allowed as deduction without any limit. Deduction for interest component is allowed only from the financial year in which the possession of the house property has been obtained. Interest paid for the financial year(s) prior to the financial year in which possession is obtained, is allowed in five equal annual installment from the Financial Year in which possession is obtained. ... more
Common problems faced by home loan borrowers in India
Source: The Economic Times Nov 13, 2013
The volatility in interest rates in India has affected borrowers of all types of loans. However, home loan borrowers are the most affected, as home loans are by far the biggest loans quantum-wise. Discrepancy in interest rates between existing borrowers and new borrowers, porting of home loan, stringent rules by lenders and clauses on fixed rate home loans are some of the issues faced by home loan borrowers in the country. ... more
Home and auto loans get dearer
Source: Business Standard Nov 07, 2013
The Reserve Bank of India (RBI) decided last week to raise its own key policy rate, the repo rate at which it lends to banks for the short term, by 25 bps. The repo rate is up by 50 bps since September, to 7.75 per cent. ... more
Now, home loan cash back on RBI's radar
Source: Business Standard Sep 26, 2013
After directing banks not to offer zero per cent finance for purchase of consumer goods, the Reserve Bank of India (RBI) might also crack the whip on home loan products offering cash back facility or EMI (equated monthly installment) waiver, people familiar with the development told Business Standard. The banking regulator is likely to review these products so see if pricing was done in a transparent manner. ... more
No crash, only a correction in real estate: Keki Mistry, VC and MD, HDFC
Source: ET Bureau Oct 15, 2012
The largest mortgage lender in the country HDFC is hopeful of achieving 19% growth this year, with housing loan as a proportion of GDP being at 8% against 20% in China. In an interview with The Economic Times, Keki Mistry, the company's VC and MD, said that though there could be some correction in real estate prices, it would not collapse. Excerpts: ... more
Tag: Home Loans News, HDFC, indian real estate, indian property, Keki Mistry
Cut in home loan interest rates will spur demand in the housing sector
Source: TNN Sep 29, 2012
A huge impetus to the real estate sector could help arrest the present slowdown in the economy to a projected growth rate of around 6% in 2012-13 as against 6.5% in 2011-12 and 8.4% in 2010-11, real estate experts say. ... more
Tag: Home Loans News, Indian real estate, property in india, home loans in India
How you can go in for a home early in your working years
Source: TNN Sep 01, 2012
A young home loan borrower starts off his asset-building with a huge advantage - time. Young people have many years of working life left and that helps in handling a large and long duration financial commitment like a home loan. Even banks consider young borrowers ... more
Tag: Home Loans News, property buying in india, real estate trends, property of india, real estate in india
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