Public sector banks, such as the State Bank of India and private sector lender, ICICI Bank, have recently announced an increase in their marginal cost of funds-based lending rate (MCLR). Consequently, the interest rates … READ FULL STORY
The government of India, on November 16, 2017, approved an increase in the carpet area of houses for the two middle-income group (MIG) categories, under the Pradhan Mantri Awas Yojana – Urban. Under the … READ FULL STORY
People at the beginning of their careers, are generally not in a position to spare huge money for servicing a home loan, which they have to invariably take in order to finance the purchase … READ FULL STORY
In its budget recommendations to the Finance Ministry, the Forum for People’s Collective Efforts (FPCE), a not-for-profit organisation, has suggested that the Anti Profiteering Authority needs to take stern action against those builders, who … READ FULL STORY
State Bank of India (SBI) has announced a massive reduction in its base rate, from 8.95 per cent to 8.65 per cent, effective from January 1, 2018. With other banks expected to follow suit, … READ FULL STORY
Buying a house seems to be an important goal, not only for newly-married people, but also for people who are single and earning and are planning to marry, unlike the previous generations who would … READ FULL STORY
A home is perceived as a tangible, prudent and relatively safe investment instrument that provides vital security and stability. The huge housing shortage in the country, increasing number of nuclear families and rising population, … READ FULL STORY
For many, the decision to buy a home, depends on whether one is able to get a home loan on time, or not. Most housing finance companies ask the borrower to pay 10-20 per … READ FULL STORY
The facility to transfer one’s home loan from one bank to another, allows borrowers to have a ‘plan B’ in case they are not satisfied with their existing lender. Besides deficiency in services, a … READ FULL STORY
In a letter to Prime Minister Narendra Modi, a pan-India home buyers’ pressure group, ‘Fight for RERA’, has said that for projects that are delayed for more than five years, banks should be ready … READ FULL STORY
Salient features of both schemes Axis Bank’s ‘Shubh Aarambh Scheme’, which offers credit of 12 EMIs, is available only on home loans to residents, whereas, ICICI Bank’s cash-back scheme is available to residents, as … READ FULL STORY
Amidst excess liquidity, the largest private sector lender ICICI Bank, on September 28, 2017, launched a mortgage product assuring borrowers a one per cent cash-back on their monthly installment payment. The product, which comes … READ FULL STORY
The third-largest private sector lender, Axis Bank, has announced a new home loan product, wherein the bank will waive off four equated monthly instalments (EMIs) each, at the end of the fourth, eighth and … READ FULL STORY
