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…
Renting vs Buying: From an investment perspective, cost involved perspective and tax benefits. 2 Minute Guide to Renting vs Buying a Property.
The Covid-19 pandemic and the nationwide lockdown has severely impacted the affordable housing segment in India. To give a boost to the housing sector and for the relief of the mid-income families, the Finance Minister Nirmala Sitharaman on May 14, 2020, announced the extension of interest subsidy on home loans under the Credit Linked Subsidy…
Apparently, in today’s competitive world, borrowers are the ones who are facing the double whammy of inflation, be it soaring day-to-day expenditures or the rising interest rates of loans. Certainly, the former is beyond control but the latter can be managed through an effective measure. So, as a borrower, do you think that your home…
For a majority of us, buying a house is a once in a lifetime exercise that we have to get right the first time around. The main reason for this is of course the fact that property investments are substantial and made with a long term perspective in mind.
हिंदी में पढ़े The Reserve Bank of India (RBI), on 27 March, allowed all financial institutions to offer a moratorium of three months on the repayment of credit card dues and term loans including home loan. The step was taken with an aim to provide a temporary financial relief to all those who could be…
As a home loan guarantor, you need to ask yourself a few questions before you commit to undersigning the loan document.
Yes, it is possible to get tax benefit on the second home loan in the same financial year. The tax benefit on two home loans taken for the purchase of two self-occupied properties can be claimed under Section 24(b) and Section 80C of the Income Tax Act, 1961. Currently, an individual can claim tax benefits…
