A home loan is a high-value and long-term credit. Even a slight increase in its rate of interest can notably increase the total cost of the loan. One of the best ways to save big on your home loan is to look for the lowest possible interest rate offer. It can help you save considerably…
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…
In the recent Monetary Policy Committee (MPC) meeting, held On December 5, 2019, the Reserve Bank of India (RBI) announced to maintain the status quo on policy rates at 5.15%. Shaktikanta Das, the RBI Governor who headed the 5th bi-monthly MPC meeting, also announced to keep the monetary stance unchanged as accommodative as long as necessary….
Benefits for Women Home Loan Borrowers in India
India’s real estate sector has been sagging for the past 2 quarters of FY 19-20 due to reasons like tight liquidity condition, default by builders and unaffordability affecting both builders and aspiring home buyers. To help the housing sector to overcome such depressing situations and to increase the affordability of property buyers, lately, the Central…
The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India has once again reduced repo rate by 25 basis points (bps). Earlier the repo rate was 5.40%. And after the rate cut, it has been reduced to 5.15%, which is the lowest since March 2010. In its 4th bi-monthly policy review meeting, the…
The Reserve Bank of India (RBI) has asked all banks to link their loan products to key repo rates or external benchmarks. The move will come into effect from 1 October 2019.
To own a house is a dream that can be fulfilled through different ways. One of them can be by availing a home loan, which is a long-term commitment with repayment period extending up to 25 to 30 years. Considering the uncertainty of life, it is quite natural to get anxious about home loan liability…
A reduction in the repo rate is a good news for home loan borrowers because of the fact that the rate cut has a direct impact on the home loan interest rate and home loan EMI (Equated Monthly Instalment). The existing and the potential home loan borrowers got this good news on June 6, 2019,…
Union Budget 2019: 1.95 crore houses will be built under Pradhan Mantri Awas Yojana (PMAY) from the financial year 2020 to 2022.
