Central government employees can now take an advance of up to Rs 25 lakhs, for the construction or purchase of house at a simple interest rate of 8.50 per cent, a move aimed at … READ FULL STORY
Several banks are now offering aggressive home loan products, such as EMI waivers and interest rate discounts, with the aim of converting fence-sitters into home buyers. Among the various types of home loans, fixed … 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
Due to the low credit off take and a high risk of non-performing assets (NPAs) in lending to the corporate sector, banks and financial institutions have taken recourse to lending in the home loan … 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 interest subsidy of up to Rs 2.60 lakhs on home loans under the centre’s affordable housing scheme, will now be available to middle-income group (MIG) beneficiaries for 15 more months till March 2019, … 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
Interest rates play a key role in the home buying decision, when one opts for a home loan. Presently, the interest rate on home loans, is around the 8% mark, which looks very attractive, … READ FULL STORY
Sluggish growth has had an adverse impact on several real estate players, resulting in many of their loans turning into non-performing assets (NPAs) for the banks and financial institutions. Recently, the government of India … READ FULL STORY
Earlier, whatever interest that a borrower paid against a housing loan, was allowed to be completely adjusted from the income, as a deduction. Now, this deduction has been capped to Rs 2 lakhs and … READ FULL STORY
The Reserve Bank of India’s (RBI’s) move, to reduce risk weights and standard asset provisioning on individual housing loans, are credit negative for banks, because lower capital requirements will weaken banks’ protection from the … READ FULL STORY
Reduction in loan-to-value ratio While lending money against any tangible security, the lender can advance a loan up to a certain percentage of the asset’s value. This is called the loan-to-value (LTV) ratio. This … READ FULL STORY
Close on the heels of the Reserve Bank of India’s (RBI’s) policy action, India’s largest lender, State Bank of India, on June 9, 2017, announced a lowering of interest rates by 10 basis points, … READ FULL STORY
