Fullerton India Credit Company Ltd, a leading non-banking financial company, (NBFC) plans to launch a housing finance company —a fully owned subsidiary of Fullerton India Ltd — by November 2015. Rakesh Makkar, Executive Vice President and Head (Business, Marketing and CSR) at Fullerton India, informed that the National Housing Board issued a license to Fullerton […]
Vaishali bought a house two years ago by availing home loan. She needs additional funds to buy a parking space. High Equated Monthly Investments (EMIs) have left her with little savings. She is thinking of taking a personal loan. Is this the only option she has? No, she can also top-up her current home loan.
Waugh Realty, promoted by former Australian cricketer, Steve Waugh, has forayed into India’s real estate market by launching a portal that will cater to the housing demands of non-resident Indians (NRIs). The portal is called “waughglobal.com”. In his statement to the press, Steve Waugh, chairman, Waughglobal.com, said, “The NRIs are highly enthusiastic about Indian real […]
To tap the high-risk segment of self-employed home loan borrowers, small- and medium-size housing finance companies are charting out new ways to assess borrowers’ credit worthiness. Now self-employed individuals may have to show sales invoices from their businesses, average bank balances or the outlook of their business to show their creditworthiness. These indirect ways will […]
ICICI Bank, one of the largest private lenders in the country, has launched a new home loan product — Extraa Home Loans — in association with the India Mortgage Guarantee Corporation (IMGC). It is the country's first mortgage guarantee-backed home loan productthat will provide cover for incremental risk. MD and CEO Chanda Kochhar informed that Extraa […]
Both HDFC and Canara Bank have slashed their base rates. Canara Bank cut its lending rate by 10 basis points (100 basis points is equal to 1%) bringing it down to 9.90%. HDFC Bank has cut its base rate by 0.35 basis points bringing its base rate down to 9.35%. It is the lowest base […]
On 10 August 2015, ICICI Bank — the largest private lender — launched “ICICI Bank Saral-Rural Housing Loan” wherein it will offer loans for amounts ranging from Rs 5 lakh to Rs 15 lakh at base rate in rural areas at 189 of its 4,052 branches. The tenure will be for 3–20 years. The loan […]
In its third bi-monetary policy review, Reserve Bank of India (RBI), has decided to keep the repo rates unchanged at 7.25%. After reducing the repo rates by 75 basis points (100 basis points means 1%) this year in three subsequent rate cuts, the central bank chose to maintain a status quo. The cash reserve ratio […]
Owning a home is a dream all of us harbor. It is a huge investment which needs to be planned well. But the sky-high prices make it seem impossible to realize this dream. Therefore, almost all of us take help of home loans to fulfill this dream. But home loan is also one of the […]
Here is a list of things you should know when you opt for loan against property.