Bank of Baroda, one of India’s leading public sector banks, has announced that it is slashing its home loan interest rates to 8.30% according to a recent Money Control report. This new announcement brings the bank’s home loan interest rate at par with its MCLR of 8.30% which was announced in October 2017. The […]
As per an article by Moneycontrol News, the State Bank of India has reduced interest rates on their home loans and auto loans by 5 basis points (bps) or 0.05 percentage points. This reduction has been implemented across all brackets (all tenures).
Whenever you borrow a home loan, lenders such as banks and Non-Banking Financial Companies (NBFCs) usually shell-out 80% of your property’s worth as a loan amount. The remaining 20% of the property value is to be paid by you. This 20% amount is called your Down Payment. For example, you are buying a property […]
Borrowing a home loan is an easy way to finance the purchase of your home. To encourage home buyers to own their dream home through home loan services, the government lets loan borrowers claim tax subsidies on both principal and interest amounts paid.
As per an Economic Times article, expectations are high this festive season for the real estate market to do better sales and clear their unsold inventory. Since builders and developers across the spectrum are offering discounts and freebies, the realty sector expects that the recovery will be smooth especially in the mid-level and affordable housing […]
Are you an existing home loan borrower or are you planning to take one soon? If the answer to that question is yes, then you must know that home loan monthly instalments are a huge financial takeaway from your monthly earning. These home loan EMI deductions need to be managed appropriately so that they don’t […]
Are you Eligible to get home loan subsidy? The announcement of the central government’s ‘Housing For All by 2022’ initiative came clubbed with the Pradhan Mantri Awas Yojna (PMAY) scheme focussed on the urban poor (Economically Weaker Sections (EWS), Lower Income Groups (LIG)) and later, also on the Middle Income Groups (MIG) of the society.
In a bid to encourage good credit behaviour, Axis Bank has announced its new home loan product- Shubh Arambh Loans under this scheme will be eligible for a waiver of 12 EMIs provided that the borrower maintains disciplined repayment behaviour. The waivers are offered on loans up to Rs 30 lakh taken for tenure of 20 year.
In a move to support RERA, banks have decided not to extend home loans to projects that are not registered under the Real Estate (Regulation and Development) Act. These are the times when fraudulent builders and fly-by-night real estate promoters are trying to find loopholes in the regulation. Hence, banks are taking extra care to […]
Overcrowded streets, never-ending traffic jams and the chaotic lifestyle of metro cities make people long for peace and solitude. Not only the uber-rich, but those with modest means are also looking to buy a second home away from the city.