Home Loan
Life was never easy for women in India and the same is true when they apply for a home loan. Single women face more discrimination and if one thought that the gender discrimination is predominant only in Bihar and UP, then take a closer look. Some banks and ironically headed by women are refusing to [...] Continue Reading »
The new urban development and housing minister Venkaiah Naidu and member of the Prime Minister Narendra Modi’s Cabinet, stated that he wants to see the dream of ‘’House for all by 2020’’ come true. He is pushing to bring down the home loan rates and focusing on developing 100 smart cities so that the burden on [...] Continue Reading »
On Wednesday, domestic brokerage Motilal Oswal said that it is undertaking into the home finance space. The initial capital being R100 Crore. Aspire Home Finance Corporation (AHFC), which is promoted by the Motilal Oswal Group, obtained a certificate of registration from sector regulator National Housing Bank (NHB). This was to start off with operations as [...] Continue Reading »
ICICI Bank has implemented a reduction in interest rates on home loans by 10 basis points – to 10.15 percent – for borrowers who draw loans for an amount up to Rs 75 lakh. The new reduced interest rate on home loans brings ICICI Bank at par with India’s biggest lender, the State Bank of [...] Continue Reading »
Axis Bank, India’s third largest private sector bank, on the occasion of its 20th Anniversary launched ‘Asha Home Loan’ earlier this week. This is a 30-year home loan product for first-time home buyers in the lower income segment looking for affordable EMIs. Asha Home loans are for customers with family incomes of 8000-10,000 per month [...] Continue Reading »
The SBI extends the last date of special home loan scheme. As per this scheme the women borrowers will get 0.05 percent discount. As per SBI the special rates were available till 31 March but the last date will be extended till the next notice. The scheme is extended because it got a great response [...] Continue Reading »
A senior bank official says that Axis Bank has launched a home loan scheme for the people whose per month income is less than Rs 10,000 per month. The bank is looking at disbursals of up to Rs 1,000 crore in a year’s time However these loans will have higher risk due to as the [...] Continue Reading »
As per the RBI the consumers are allowed to pre-pay floating rate term loans without any fine. The RBI concluded that bank should not take undue advantage of customer difficulty. Instead of charging for non-maintenance of minimum balance in ordinary savings bank accounts the bank should limit the services available on such accounts to those [...] Continue Reading »
The issuance of unsecured redeemable non-convertible debentures by India Infoline Housing Finance Limited (IIFL), which is the housing finance subsidiary of IIFL Holdings Limited, has been oversubscribed 2.24 times of the base issue. As per the stock exchange data the total collection was Rs 224.5 crore which is 2.24 times of the base issue. The [...] Continue Reading »
The Reserve Bank of India (RBI) disagrees with finance ministry’s plan to give Sarfaesi Act-powers automatically to all housing finance companies (HFCs) registered with the National Housing Bank (NHB). An official says that the ‘stringent’ Sarfaesi powers should not be given to institutions without proper due diligence of their management, track-record, borrower profile and default [...] Continue Reading »
