Category: Home Loan

Home Loan vs Loan against Property – what is the difference between mortgage loan & home loan? How Loan against property or mortgage loan differ from home loan?

There is always a fear in borrower’s mind that if something unexpected happens to him/her in near future, who will repay the balance home loan amount. Consumer will not want that the burden of home loan to fall on family after his/her untimely demise. Life is unpredictable; this thought becomes recurrent in the mind of…

Top 10 Banks offering best Home Loan Transfer Rates – Best Home Loan Transfer Offers in India, Compare home loan transfer rates of all banks.

Finding the best home loan is not an easy task to undertake. As it is not all about getting the home loan at lower interest rate but also considering its other important features attached, such as documentation process, processing fee, and pre-payment, balance transfer and foreclosure charges. In case you are planning to take a…

Defaulting on a home loan is certainly an unfortunate situation caused by unknown circumstances for any individual. Any default on loan repayment is not considered good by lenders, as it negatively impacts one’s creditworthiness as well as credit or CIBIL score. Lenders consider a home loan default wherein the borrower fails to make three consecutive…

EMIs (Equated Monthly Instalments) are preferred by customers to ease out their burden of paying the full amount of the purchased expensive items at once. EMIs are meant to plan your finances in a better way so that you can balance your monthly expenses without too much burden on your pocket.  Moreover, EMIs could be…

In June 2015, under Pradhan Mantri Awas Yojana (PMAY), Ministry of Housing and Urban Poverty Alleviation (MoHUPA) introduced Credit Linked Subsidy Scheme (CLSS) for individuals to own their dream home. This subsidy can be called as interest subsidy scheme under PMAY that is given to people for home construction, purchase, extension and improvement. This scheme…

To understand the benefits of cheaper home loans and its effect on homebuyers, let’s first understand the current home loan interest rates of major Indian banks and HFCs (Housing Finance Companies) (as of August 2018)

As on August 4, 2018, Indiabulls Housing Finance has increased 20 basis points in the interest rates for home loans. Post this revision, the home loan interest rates worth upto Rs 35 Lakhs will be from 8.70% onwards.

Presently, almost all the leading banks provide home loans, however the interest rates may vary from bank to bank. Many of the NBFCs (Non-Banking Finance Corporations) also offer a variety of home loans to its customers at competitive interest rates.