Category: Home Loan

While applying for a loan, the bank assesses the borrower’s creditworthiness. This is done to ensure if the applicant would be able to repay the loan. A debt-to-income ratio or DTI ratio is one factor used by banks to determine whether or not to lend the loan to an applicant. To know more about the...

We, Indians, are averse to debt. Therefore, whenever we have surplus funds, we use it to prepay our loans. However, a home loan should not be seen under the same lens as other lending products such as car loan and personal loan. Unlike other loan products, home loan offers a number of benefits, which might…

Pradhan Mantri Awas Yojna (PMAY) - Credit Linked Subsidy Scheme (CLSS) is a government scheme launched with an aim to make buying home easier for: Economically Weaker Section (EWS) Low Income Group (LIG) Middle-Income Group 1 (MIG-I) Middle-Income Group 2 (MIG-II) The scheme offers subsidized home loan interest rates based on your household income. The...

हिंदी में पढ़ें 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 getting home loan to fall on family after his/her untimely demise. Life is unpredictable; this thought becomes recurrent in...

The Reserve Bank of India (RBI) had introduced Marginal Cost of funds based Lending Rate (MCLR) on April 1, 2016, to make up for the limitations of Base Rate, which was the lending rate benchmark at that time for all retail loans extended by commercial banks. However, the delay by banks in passing on the…

If you are in the market, looking out for a home loan, you may be having a hard time understanding the complicated home loan terms—especially if you are new in the market. To help you make an informed decision with a clear mindset, here are some of the key terminologies associated with a home loan....

There are various ways to transfer property rights to another person, namely sale, will or gift. While sale deed and will deed transfer methods are popular and widely known in the industry, the gift deed method is a less familiar term for people. A gift deed transfer method is followed when a property owner voluntarily...