Home Loan
Big relief for home loan borrowers as EMIs to fall by 1.8% on a 20 year loan tenure as RBI reduced repo rate by 25 bps
Home Loan Interest Rate: RBI has reduced the repo rate by 25 basis points, providing relief to home loan borrowers. The repo rate cut could lead to lower interest rates on floating rate home loans. Further cuts this year will depend on sustained low inflation and growth concerns. The next rate cut's timing is uncertain and will be influenced by economic factors.
Will RBI rate cut reach your EMIs? Govt is watching
The Reserve Bank of India recently cut the repo rate by 25 basis points to 6.25%, influenced by a decline in GDP growth and low inflation. Transmission to bank loan rates may take time due to liquidity deficits and competition for deposits, despite expectations of easing financial conditions.
Pardeshi should prepay home loan, review and rebalance investments to meet kids' graduation, own retirement goals
The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. The advice given is based on the performance of the funds, the risk profile of the investor as well as his financial goals.
Home, car, & MSME loans to get cheaper after RBI cuts policy rates first time in five years
RBI governor Sanjay Malhotra cut policy rates for the first time in five years, making loans cheaper for homes, cars, and MSMEs. This move aligns with recent tax cuts aimed at boosting consumption and economic growth. The adjustment is expected to reduce borrowing costs and enhance productivity without significantly impacting inflation.
HDFC Bank increases lending rate by 5 bps on this tenure; check details
HDFC Bank has increased its overnight MCLR by 5 basis points to 9.20%, effective February 7, 2025, while other tenures remain unchanged. The RBI also cut the repo rate by 25 basis points, which may lead to reduced EMIs for home loan borrowers. HDFC home loan rates are linked to the Repo Rate, offering rates from 9.40% to 9.95%.
Home loan gets cheaper for first time in 2 years: Should 1st time homebuyers make a move now?
RBI MPC Meeting: The Reserve Bank of India has cut the repo rate by 25 basis points, from 6.50% to 6.25%. The repo rate cut has come after the government announced zero tax on income up to Rs 12 lakh for the upcoming fiscal year 2025-26. Do the increased tax savings and lower home loan interest rates sweeten the deal for first-time homebuyers? Here is how repo rate cut can impact first time homebuyers.
India's 'aam aadmi' gets more than tax cuts, thanks to Malhotra & co
RBI MPC rate cute: The Reserve Bank of India has reduced the repo rate by 25 basis points to 6.25%, aimed at boosting economic growth and easing financial pressure on households. Lower EMIs and tax relief from the Union Budget provide middle-class Indians with extra disposable income, potentially increasing spending in real estate, automobiles, and retail sectors.
'Aakhir woh din aa hi gaya': Netizens thank RBI for another 'gift to the middle class' after 5 years, check hilarious memes
The Reserve Bank of India has cut the key interest rate by 25 basis points to 6.25%, marking the first rate cut in nearly five years. This move follows significant income tax cuts in the Union Budget 2025-26 and aims to boost economic growth and ease financial conditions.
RBI Policy: Loans cheaper after first rate cut since 2020
RBI Governor Sanjay Malhotra announced a 25-basis point cut in the policy repo rate, aligned with the Union Budget to boost consumer spending. This is the first reduction in five years, leading banks to likely lower their loan rates similarly, impacting home, auto, and MSME borrowers positively after a series of previous rate hikes.
Home Loan EMI Calculator
A Home Loan EMI Calculator is an online financial tool that helps borrowers estimate their monthly Equated Monthly Installment (EMI) payments for a home loan. This calculator simplifies the process of determining how much one needs to pay each month towards repaying the loan, allowing potential homebuyers to plan their finances effectively.
Waiting for interest rate cuts on home loan to buy your dream house? Here's why a delay may not help
If you are a prospective home buyer, solely focusing on interest rate cuts to reduce your home loan EMI may not be a smart move. This is because rising property prices could potentially offset the benefits. What should your plan of action be, if you are looking to buy a property for self-use or investment purposes? Read on to know more
Budget 2025: Top 10 key takeaways from FM Sitharaman's speech, watch!
Union Finance Minister Nirmala Sitharaman tabled new Union Budget for the Country on February 1. Finance Minister Nirmala Sitharaman, during her Union Budget 2025 speech, announced that no income tax will be payable on income up to Rs 12 lakh, providing significant relief to taxpayers especially the middle class.This limit will be Rs 12.75 lakh rupees for salaried tax payers counting Rs 75,000 of standard deduction. She also stated that the new income tax regime will be simpler, with a special focus on benefiting the middle class.But there is a catch, the exemption can be earned only if a tax payer takes relief under various sections of the income tax act like Rs 1.5 lakh exemption under section 80CCC, exemption of Rs 1.5 lakh for paying interest on home loans.Budget 2025: Top 10 key takeaways from FM Sitharaman's speech, watch!
Income Tax Budget 2025 Live Highlights: Salaried taxpayers wont have to pay any taxes on annual income of up to Rs 12,75,000; check your income tax calculation as per old and new tax regime
Budget 2025 Income Tax Updates: The middle class was hoping for a favorable change in the income tax slabs ahead of the Union Budget 2025-26, and they were not disappointed. Check which income tax regime will work best for you—the old one, the new (existing one), or the new (proposed one). Budget 2025-26 highlights NPS Vatsalya to be treated at par with other NPS accounts Section 87A rebate under the new tax regime has been increased from Rs 25,000 to Rs 60,000 Basic income tax exemption limit raised from Rs 3,00,000 in existing new regime to Rs 4,00,000 in proposed new regime Proposed increase in TCS threshold on remittances under RBI’s Liberalized Remittance Scheme (LRS) from Rs. 7 lakh to Rs. 10 lakh TCS not applicable to educational remittances funded by loans from specified financial institutions Time for filing updated returns for any AY extended by 2 years No Income payable on income of up to Rs 12,00,000 in the new tax regime Here is how the new (proposed) tax regime will now look like: Zero to Rs 4,00,000- No Tax Rs 4,00,000 to Rs 8,00,000---5% Rs 8,00,0001 to Rs 12,00,000---10% Rs 12,00,001 to Rs16 lakh--15% Rs 16,00,001 to Rs 20 lakh--20% Rs 20,00,001 to Rs 24 lakh-- 25% Above 24 lakh---30%
From NPS to home loan: Top tax expectations from Budget 2025
Ishita Sengupta discusses potential tax changes, including a higher standard deduction, increased exemption limits, and home loan benefits under the new regime. She also suggests a 25% tax slab to create a smoother progression between tax brackets.
HDFC Bank cuts lending rates on these tenures; EMIs of these loans will be lowered
HDFC Bank cuts lending rates: HDFC Bank has cut its marginal cost of funds-based lending rate (MCLR) on select tenures by up to 5 basis points (bps). The revised rates are applicable from January 7, 2025 onwards.
Supply of homes in affordable and mid-income category dips by 36%
The supply of homes in the affordable and mid-income category has decreased by 36% over the past two years, prompting concerns of a housing crisis. Major cities like NCR, Mumbai, and Hyderabad have seen significant declines. Addressing this issue requires government intervention to incentivize developers and provide benefits to homebuyers.
What is difference between flat interest rate on home loan and reducing balance interest rate?
If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 31st part of this series, Riju Mehta explains the difference between the two methods of calculating interest on home loans.
CBI closes case against DHFL, its directors in 'fake' home loan accounts case
After a three-year investigation, the CBI has closed the case against DHFL and its directors over 2.60 lakh alleged fictitious home loan accounts due to lack of evidence suggesting a criminal conspiracy. The accounts were believed to claim interest subsidies under Pradhan Mantri Awas Yojna. The final report has been submitted to a special court in Delhi.
Basic Home Loan to end FY25 with Rs 15,000 crore disbursement
Basic Home Loan, a fintech start-up, secured $10.6 million in Series B funding. The funds will be used to grow its market presence, develop its lending book, and upgrade technology. They are targeting significant loan disbursement growth and have assisted over 250,000 families since 2020.
#25 For 2025: Can RBI’s upcoming policy steps help those who yearn for a place they can call their own?
Home loan borrowers may see a rate reduction in 2025 as the RBI shifts policy stance to neutral. Economists predict a rate cut in February and April, potentially lowering borrowing costs. This would bring relief to borrowers and spur growth in other consumer sectors. Banks like SBI and Axis Bank expect strong growth driven by consumer confidence and new projects.
Banks plan to move Supreme Court for ways to lend against properties
High-street banks are considering approaching Supreme Court following a ruling that bars lending against properties without completion and occupancy certificates. This decision raises practical issues for older and heritage properties and states where such certificates are not issued. Banks seek further clarification.
Relief for home buyers, SC grants exemption to Unitech housing projects from RERA registration
The Supreme Court granted exemption from RERA registration for Unitech Ltd’s housing projects in seven states, facilitating loan disbursement for home buyers. Notices were issued to banks for loan suspension issues. The court directed the UP government to ensure police protection and environmental clearances for projects in Noida, advancing home buyers' interests.
Latest SBI MCLR from January 15, 2025: Check current SBI home loan, personal loan, car loan rates
SBI lending rates: State Bank of India (SBI) has announced the latest marginal cost of funds-based lending rates (MCLR) on loans for the period between January 15 and February 15, 2025. The latest MCLR is effective from January 15, 2024
Lowest home loan interest rates 2024: Check which bank is offering lowest rates for amount above Rs 75 lakh
If you are planning to avail of a home loan, then you should make sure to compare the interest rate as a lower interest rate can result in lower monthly payments. Check which bank is offering lowest rates for amount above Rs 75 lakh.
NBFCs' loan growth to ease to 17% in FY25 from 21% in FY24: Jefferies
Loan growth for Indian NBFCs and HFCs is expected to moderate to 17% in FY25 from 21% in FY24 due to weaker credit demand and reduced lending to unsecured loans. Economic activity is anticipated to improve in FY26, stabilizing sector growth levels.
RBI loan FAQs: Can you switch from fixed to floating interest rate when RBI cuts repo rate and vice-versa?
RBI loan FAQs: Lenders are required to offer fixed interest rate options for all personal loan categories such as home loan, car loan etc. and allow borrowers to switch between floating and fixed rates, with flexibility subject to board-approved policies and charges.
Techie fears getting married amid layoffs, asks, ‘What if I lose my job?’
A 22-year-old remote front-end developer earning Rs 55,000 per month is concerned about job security in the IT sector. He saves Rs 40,000 and invests Rs 5,000 through SIP while facing home and education loans. He worries about financial demands for marriage and purchasing a house. The internet community offers advice on managing these concerns.
Invest fast: These 2 stocks could soar by 900% under Donald Trump, says Bill Ackman
There are a couple of real estate stocks at the moment that have the capacity of surging by over 900% in the Donald Trump regime, with corporate tax cuts making things even more interesting at Wall Street in the days to come, as per Bill Ackman, a billionaire investor and a Trump loyalist.
Relief for home loan borrowers only in 2025: Savings on EMIs as RBI likely to cut rates by 50-100 bps in new year
Home loan borrowers may see relief in 2025 as interest rate cuts are anticipated following a decline in GDP growth. Experts predict a potential repo rate reduction, with varying estimates of up to 100 bps. Borrowers are advised to switch to external benchmark-linked lending rates to maximize gains and consider refinancing for better deals.
Investing in crypto for high returns, quitting job for a start-up, avoiding equities—why to avoid such new year resolutions
People often make financial new-year resolutions that are unrealistic and ill planned. Without a proper assessment of your financial status, goals such as starting a business, making risky investments or more can backfire and leave you worse off. Know why it is crucial to set well planned and well reasoned financial resolutions for yourself in this article.
Indian banks to see range-bound 12.5% credit growth in 2024-25: HSBC
HSBC Global Research expects Indian bank credit growth to remain steady at 12.5% in FY2025, though GDP slowdown presents a downside risk. Retail loan growth showed improvement in November 2024, especially in unsecured personal loans, home loans, and gold loans.
Home loans drive Indian banks’ retail books
The share of states in the bottom half of the market has gone up from 44% of the total borrowings in 2013-14 to 49% in 2023-24. Three states together account for more than half of all retail loans disbursed by banks, show the data.
Aadhar Housing Finance opens 5 new branches in Rajasthan
Aadhar Housing Finance expanded its operations in Rajasthan. It opened five new branches in cities like Jaipur and Ajmer. The company now has 54 branches in the state. Aadhar aims to address the housing shortage for low-income groups. It offers affordable home loans and easy credit access. The company manages Rs 3000 crore in assets in Rajasthan.
HDFC Bank hikes MCLR on this tenure; check latest HDFC lending rates
HDFC Bank raised its Marginal Cost of Funds-Based Lending Rate (MCLR) by up to 5 basis points for short-term loans, effective December 7, 2024. The overnight MCLR now stands at 9.20%. Know more about HDFC's lending rate for home loans and other categories in this story.
Home loan: Paving the way to your dream home
Homeownership dreams can be realized with a home loan. Understanding current interest rates, fixed or floating, is crucial. Online housing loan EMI calculators simplify financial planning by providing instant EMI estimates and amortization schedules, enabling informed borrowing decisions.
Woman confesses joining military for perks and loan waiver, not patriotism. Story goes viral
A U.S. military woman claimed she joined the armed forces for benefits like the VA home loan and GI Bill, not out of patriotism. This statement sparked debate on social media about the motivations for military service. Some agreed that many join for practical reasons, while others felt service should be driven by patriotism.
Asian Development Bank commits $70 million to Vastu Housing Finance for affordable housing
Asian Development Bank (ADB) has pledged USD 70 million to Vastu Housing Finance to improve access to affordable housing loans, specifically targeting economically weaker sections, low-income groups, and first-time and women borrowers in smaller towns across India. Vastu, with a focus on self-employed individuals, started its operations in 2015.
Taking a home loan? Look for these factors apart from interest rate before taking a final call
Before taking a home loan, you should consider various factors such as interest rate, your monthly income and more. Know more about various parameters to keep in mind while taking a home loan in this story.
CREDAI wants 100pc deduction on interest paid on home loans to boost housing demand
CREDAI urged the government to increase the affordable housing price cap from ₹45 lakh to ₹75-80 lakh, reduce GST on under-construction homes, and offer a 100% deduction on home loan interest. These measures aim to stimulate demand, especially within the affordable and mid-income housing segments, and put more money in the hands of potential homebuyers.
SBI MCLR from December 15, 2024: Check latest SBI MCLR, base rate here
SBI MCLR December 15, 2024: The State Bank of India (SBI) has announced its latest Marginal Cost of Funds-Based Lending Rate (MCLR) for the period December 15, 2024 to January 15, 2025. The revised MCLR, effective from December 15, 2024, will impact interest rates on various loans, including home loans and personal loans.
PSBs explore new route to home loan evaluation
Some large state-owned banks in India are exploring the possibility of offering home loans to individuals without traditional income proof. This initiative aims to assess borrowers' earnings through alternative methods, such as evaluating QR code transactions for street vendors or estimating the business of roadside eateries based on customer volume and average billing.
PNB Housing Finance Q3 Results: Net profit jumps 43% YoY to Rs 483 crore on strong home loan demand
PNB Housing Finance on Tuesday reported a 43 per cent jump in net profit to Rs 483 crore for the December quarter. The non-banking finance company, promoted by Punjab National Bank, had earned Rs 338 crore in the same quarter a year ago.
Realtors expect housing demand to remain strong on stable mortgage rate, hope for rate cut in new yr
The Reserve Bank of India (RBI) maintained its key interest rate while reducing the Cash Reserve Ratio (CRR). Real estate industry bodies CREDAI and NAREDCO welcomed the move, expecting it to boost housing demand by ensuring home loan affordability. They anticipate future rate cuts to further stimulate the sector, particularly affordable housing.
Banks report 50.4% increase in gold loan demand amid financial distress
Gold loans by banks have grown by 50.4% in the first seven months of the financial year. This increase is due to a shift from NBFCs and a preference for secured loans. The total gold loans outstanding as of October 2024 stand at Rs 1,54,282 crore. Other personal loan segments saw single-digit growth.
Budget 2025: Higher 87A tax rebate, deduction on home loan, income tax slab and more, what experts demand from FM to boost consumption
Budget 2025: Experts demand 87A tax rebate increase, accessible home loans, income tax slabs linked with inflation and others from the FM. A strong case for linking income tax slabs with inflation makes sense now. "By linking income tax slabs to inflation, India could protect the purchasing power of its citizens, especially for the middle class."
Worrying signs: Is Britain heading for another mortgage crisis? Here's all you need to know about it
With a new British Government and their new economic policies, UK has a chance of heading towards a major mortgage crisis, which may not stay restricted to one region, but may impact the entire country. Will British citizens get punished with mortgages, based on latest public debt scenario?
Lower EMIs for home loan borrowers soon: RBI likely to cut repo rate up to 50 bps by March 2025 despite no change now
RBI Repo Rate: Home loan borrowers may benefit from a drop in EMIs soon as RBI is expected to cut interest rates, following global trends. Higher global interest rates initially forced RBI to raise rates, but with inflation cooling, reductions are likely. Borrowers should consider switching to external benchmark-linked lending rates for maximum benefit.
Several state-owned banks waive processing fees on home loans to attract business
Several state-owned banks, including Central Bank of India and Punjab National Bank, have waived processing fees on home loans during the festive season to boost demand. While public sector banks offer lower rates, private sector banks have not announced similar waivers.
Latest SBI home loan interest rates: State Bank of India hikes lending rates for these tenures
SBI lending rates: The State Bank of India (SBI) has announced the latest marginal cost of funds-based lending rates (MCLR) on loans for the period November 15- December 15, 2024. SBI has revised lending rates on these three tenures. The revised MCLR is effective from November 15, 2024.
Former HDFC execs team up to start home loan venture; bag Rs 800 cr from PEs
Weaver Services, a non-bank lender formed by former HDFC executives, secured Rs 800 crore from private equity funds for expansion and acquiring Capital India Home Loans. The company plans to launch home loan products for self-employed individuals in Tier 2 and Tier 3 towns after regulatory approvals and acquisition completion.
Aptus Value looks capable of building on its quality assets
The stock of Aptus Value Housing Finance India has fallen by 18.5% over the past month amid weakness in the broader market despite posting double digit growth in disbursements and higher RoE for the September quarter.
HDFC Bank hikes loan interest rates on these short-term tenures; check details
After the revision, HDFC Bank MCLR interest rates will now range between 9.15% and 9.50%. The rates are applicable from November 7, 2024.
Easy Home Finance secures $35 million from Ranjan Pai’s Claypond Capital, others
Existing investors Xponentia Capital, Finsight Ventures, Harbourfront Capital, and Pegasus India Evolving Opportunities Fund, participated in the funding round of the home financing startup.
HFCs propose higher guarantee cover for affordable home loans
Housing finance companies propose revamping the Credit Risk Guarantee Fund Trust for Low Income Housing. They suggest increasing the guarantee cover for home loans to ₹25 lakh from the current ₹5 lakh. This renewal aims to include more low-income customers and boost affordable housing in 124 districts. The government's response is awaited.
US Fed rate cut impact on Mortgages, Home Loans, Credit Cards, Car prices, Savings, Student loans. Details here
US Fed rate cut announcement will impact the personal finances of millions of Americans.
Fintech startup Basic home loan raises Rs 87.5 crore in a Series B funding round
Existing investor Ashish Kacholia, invested further and increased his stake in the company while the round also saw participation from existing investors, including Gruhas, Let's Venture, 9Unicorns, and Venture Catalysts.
RBI allows home loan disbursals sanctioned before Oct 20: Navi Finserv
The Reserve Bank of India has permitted Navi Finserv to resume disbursing scheduled home loans sanctioned prior to October 20. This decision comes as a relief to homebuyers waiting for their loans amid earlier restrictions imposed due to supervisory concerns. Similar restrictions were placed on three other NBFCs.
Vridhi Home Finance raises Rs 310 crore funding from Norwest Venture Partners, others
In a statement on Tuesday, Vridhi Home Finance said that it is investing in building a strong distribution network, in risk management practices and in its technology back end to create a digital home loan process.
Make your dream of homeownership a reality with a home loan
Home loans could turn your dream of owning a home into reality. Discover how the Bajaj Finserv App is enhancing the borrowing experience in the digital era.
HDFC sells $717 million of home loans to reduce credit book
HDFC Bank has sold a housing loan portfolio worth 60 billion rupees and car loans worth 90.6 billion rupees to various state-controlled banks and asset management companies. This move aims to reduce its retail loan portfolio amid regulatory pressures to improve credit-deposit ratios, which have worsened due to rapid credit growth and its merger with Housing Development Finance Corp.
Taking a joint home loan? 6 things to know
Joint home loans are permitted only where the property funded by the loan is also held jointly.
Union Budget 2025 Income Tax Live Updates: Changes in income tax slabs, new tax regime, exemptions for home loans, life & health insurance, NPS for middle-class: Here is what India's taxpayers wants from Budget 2025-26
India Budget 2025 Income Tax Live: As we inch closer to the Union Budget 2025–26, hopes are high for multiple tax breaks to be made available to the salaried, middle-class taxpayer. This includes making annual income of up to Rs 10 lakh tax-free in the new income tax regime. Other major income tax reliefs on the salaried class wishlist include an increase in exemption and deduction limits in both the new and old income tax regime, like interest paid on home loans, health and life insurance premiums paid, voluntary NPS contributions by the employee, tuition fees paid for child's education and more. This is needed to boost the slowing urban consumption and increase the in-hand income of Indians. The Economic Survey will be tabled a day before in the parliament, i.e., on Friday, January 31, 2025, at around 1 pm. What major changes are taxpayers hoping for from this union budget 2025-26? Taxpayers are eagerly hoping for a raise in the present limits of standard deductions as well. While the old tax regime offers a flat-out standard deduction of Rs 50,000, the new tax regime allows taxpayers to claim a standard deduction of Rs 75,000, which was increased from its previous limit of Rs 50,000 in Budget 2024. Experts are also hopeful of simplification of long-term capital gains tax (LTCG) and short-term capital gains tax (STCG), and the reintroduction of indexation benefit on long-term capital gains for debt mutual funds and real estate. However, recent media reports have strongly suggested that no major changes in these taxation frameworks will be introduced in this budget in this regard. This is largely because significant provisions related to LTCG and STCG were introduced in the interim budget 2024. Last budget, the government announced a comprehensive overview, overhaul, and simplification of the 63-year-old Income Tax (I-T) Act. With the aim being to make it easy for taxpayers to comprehend the I-T Act and reduce and ease income-tax-related litigation processes, it is expected that FM Sithraraman might introduce the direct tax code (DTC) during the budget session of this year, which will last between January 31 and April 4, 2025.
Real estate continues to dominate India's investment portfolios, shows FICCI report
Even for millennials, buying a house featured at the top of their priorities. 66% of millennials & 41% of generation-X respondents highlighted that they intended to utilize their investment gains to buy a house in the future.
China's $562 billion loan push for unfinished homes disappoints
China's increase of the loan quota for unfinished residential projects to ¥4 trillion ($562 billion) fell short of expectations, causing a dip in property shares. Analysts criticized the move as incremental, while the government aims to stabilize the real estate sector and prevent a mortgage boycott.
Boom or bust — how RBI’s decision to leave rates unchanged affects homebuyers
If you're an aspiring homebuyer, now is not the time. And if you're already paying home loan EMIs, you must continue to tango with their high tempo for the moment.
Capital India Finance sells housing finance subsidiary to firm backed by former HDFC employees for Rs 267 crore
Capital India Finance Ltd has sold its housing finance subsidiary, Capital India Home Loans Limited, to Weaver Services Private Limited for Rs 267 crore. Weaver will raise up to Rs 800 crore from private equity funds to finance this acquisition. The focus will be on innovative home loan products for self-employed individuals in Tier 2 and Tier 3 towns.
Ambit initiates 'Sell' rating on Bajaj Housing Finance for overvaluation and competitive pressures; expects 39% downside
Ambit has initiated a 'Sell' rating on Bajaj Housing Finance, targeting Rs 85, citing valuation concerns amid competition in the mature home loans sector, despite recent growth in AUM and loans.
Paisabazaar expands into brick-and-mortar to boost secured lending
Following its sister firm Policybazaar’s playbook, digital credit marketplace Paisabazaar, a part of listed PB Fintech, is building its own offline distribution channel. Naveen Kukreja, chief executive officer of Paisabazaar, told us that the company has set up a field team of around 100 people in Delhi, Mumbai, and Bengaluru.
RBI's new bank-subsidiary norms to force realignments of business
The RBI does not want banks to use step-down entities to circumvent norms that do not apply to them. Effectively, some subsidiaries may remodel themselves as direct selling agents of the bank, a senior bank official said. The RBI has sought feedback from banks by November 20 on the draft guidelines.
Frequent calls for personal loan or auto loan — saviour or loan shark in disguise? Keep these things in mind before you borrow
How much charge on future income one can afford is a personal financial question that the borrower alone can answer. The lender can look at your assets or income and propose how much he will lend. Discount the ‘loan eligibility’ worked out by the borrower. Do your homework about how much you can pay every month. Even if the lender masks your eligibility as a privilege, it is not. You borrow, you repay.
Home loans for properties above Rs 75 lakh surge in four years; check which bank is offering cheapest home loan interest rate
In line with a recent Knight Frank report, the market's steadiness is apparent in the rising volume of mortgage applications for homes, which currently constitute a substantial share of India's housing sales, surpassing Rs 1 crore and representing 41%. This information indicates that the upsurge in sales is not merely a momentary event but rather a continual trend.
Developers roll out red carpet for homebuyers in festive season
Realty companies in India are leveraging the festive season with offers like EMI waivers, GST exemptions, and free registration to boost sales. Major builders are featuring discounts, complimentary car parking, and fully furnished apartments. Some are collaborating with banks to offer fixed interest rates on home loans, enhancing buyer appeal.
Jio Financial to launch home loans soon
Jio Financial Limited is set to launch home loan products after debuting their secured lending and digital banking solutions. The company, a Reliance Industries arm, is also progressing in its joint venture with BlackRock and expanding insurance offerings. The beta JioFinance app has hit 1 million downloads.
Home loan EMIs pinching hard? Let’s see what RBI is about to say
RBI MPC October Meeting: The Reserve Bank of India's Monetary Policy Committee, led by Governor Shaktikanta Das, is expected to announce its interest rate decision on October 9, with most analysts predicting no change. A potential rate cut could benefit housing market borrowers with lower EMIs and boost market sentiment.
PMAY home loan subsidy can be taken back by govt from borrower in these conditions
Pradhan Mantri Awas Yojana Subsidy: PMAY is a government scheme that allows individuals to buy or construct their houses at affordable prices. However, not many PMAY subscribers know the conditions under which PMAY credit subsidy can be taken back by the government from the borrowers. Read on to know the conditions in which PMAY subsidy can be taken back.
HDFC Bank hikes loan interest rates by 5 bps on these two tenures
Latest HDFC Bank loan interest rates: The Marginal Cost of the Fund-Based Lending Rate (MCLR) represents the lowest interest rate that a financial institution must impose on a specific loan. Following the update, HDFC Bank's MCLR interest rates will vary from 9.10% to 9.45%. These rates will be effective from October 7, 2024.
Festive offers 2024 on loans, FDs, credit card spends: ICICI Bank, SBI, Axis Bank, Union Bank of India, Canara Bank, Bank of India
Festive offers 2024: Banks typically experience a significant surge in business, particularly in the retail segment, which includes housing loans, vehicle loans, and personal loans, during the festive seasons. Here is a look at some of the festive season deals announced by top banks in India.
ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week
The funds were raised through 14 rounds this week compared to 44 in the corresponding period last year.
Piramal Finance aiming for 'predictable profitability': MD
The finance company is likely to move towards "predictable profitability" by the end of this fiscal year as it shrinks its legacy book, which is expected to decrease the volatility in the earnings number, he said. Consistency in earnings is a factor that most investors have preferred over surprises.
Fixed vs Floating rate home loan: Understand the difference
If you are confused by personal finance terms, jargon and calculations, here’s a new series to simplify and deconstruct these for you. In the tenth part of this series, Riju Mehta explains the difference between the two types of interest rates.
Will the wait of home loan borrowers for reduction in EMIs be a reality in October this year? Here’s how to make the best of falling rates
Home loan borrowers experiencing high EMIs may soon benefit from falling interest rates. Experts expect a rate cut cycle influenced by US Fed decisions and other global factors. Borrowers can optimize by opting for tenure reduction or transferring loans to competitive lenders to minimize interest costs and expedite loan repayment.
Home loan interest rates in August 2024: Banks offering cheapest interest rates for home loans up to Rs 75 lakh
Fixed rates are fixed for the duration of the loan, while floating rates fluctuate based on monetary policy and market conditions. Each has benefits and drawbacks when it comes to interest payments. Here is list of banks offering best home loan interest rate for loan amounts up to Rs 75 Lakh.
