Buying a home is a once in a lifetime decision and one of the biggest dreams in life for many of us. Every individual has a desire of buying a home of his own. It is one of the most important financial decisions for any individual as it involves a lot of planning, execution and…
When you are looking to buy a dream home, one of the most difficult decisions for you is to choose a right lender to avail a home loan from. There are various banks and financial institutions ready to accept your loan application and grant you loan but that does not mean you are getting the…
The monetary policy committee of the Reserve Bank of India (RBI) announced a hike in the repo rate by 25 basis points to 6.25%. This increase in the repo rate by the Reserve Bank of India has come after a span of four and a half years. The last time repo rate was raised was…
TATA Group’s real estate arm- TATA Housing- announced its partnership with Indiabulls Housing Finance to offer home loans at a rate of 3.99 percent to those who buy apartments in its ongoing projects. This scheme is available across 11 projects of TATA Housing in seven cities. This special home loan rate will be valid […]
Bank of Baroda, one of India’s leading public sector banks, has announced that it is slashing its home loan interest rates to 8.30% according to a recent Money Control report. This new announcement brings the bank’s home loan interest rate at par with its MCLR of 8.30% which was announced in October 2017. The […]
As per an article by Moneycontrol News, the State Bank of India has reduced interest rates on their home loans and auto loans by 5 basis points (bps) or 0.05 percentage points. This reduction has been implemented across all brackets (all tenures). This step is expected to boost the housing and vehicle loan market. […]
Whenever you borrow a home loan, lenders such as banks and Non-Banking Financial Companies (NBFCs) usually shell-out 80% of your property’s worth as a loan amount. The remaining 20% of the property value is to be paid by you. This 20% amount is called your Down Payment. For example, you are buying a property […]
Borrowing a home loan is an easy way to finance the purchase of your home. To encourage home buyers to own their dream home through home loan services, the government lets loan borrowers claim tax subsidies on both principal and interest amounts paid. You can avail this tax subsidy if you are the sole […]