Home Loan Interest rate
India’s largest private lender ICICI Bank has slashed the home loan interest rates for loans up to Rs 5 crore drawn by salaried individuals. The bank has revealed in a recent announcement that, for all floating rate home loans up to Rs 5 crore for salaried individuals, there will be only one single interest rate [...] 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 »
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 »
ICICI, HDFC and Vijaya Bank have joined the race to cut rates for the festival season, in a series of efforts by lenders to boost home market. The lenders have cut their rate by up to 100 basis points on their home loans. Under the festival scheme, ICICI Bank will offer home loans of Rs [...] Continue Reading »
The State Bank of India (SBI) is planning to showcase ‘lower equated monthly installment savings investment proposition’ to their existing customers as well as prospective customers including home loan customers of other banks and housing finance companies. The bank has lowered the equated monthly installments (EMIs) on home loans by about Rs. 15-19 across the [...] Continue Reading »
Experts say that the present slowdown in the economy can be turned to a projected growth with a revival in the real estate sector. When India’s economic growth had slowed down to 6.7 per cent in 2008-09 from 9.3 per cent in the previous year, the revival of the real estate sector with a growth in [...] Continue Reading »
The mid-sized developers are banking upon the 20:80 scheme in the upcoming festival season. It has been considered a popular marketing tool to attract buyers amidst a slowdown in the real estate business. Under the scheme, which is known as the ‘subvention scheme’, a buyer has to pay only 20 per cent upfront, while the [...] Continue Reading »
Statistics show that Public sector banks are facing the problem of high delinquencies in the home loan segment up to Rs 5 lakh. High interest rates and sticky inflation have hampered the ability of small borrowers to service home loans. Home loans in two slabs — up to Rs 2 lakh and Rs 2-5 lakh [...] Continue Reading »
The real estate industry is very much sensitive to the home loan interest rate. With the RBI decision to cut key lending rates by 50 basis points, builders and home loan customers will be benefited. The reduced cost of borrowing is expected to be passed on partially by banks to borrowers in the form of [...] Continue Reading »
With the increase in policy rates by the central bank on Tuesday can impact the financial performance of the real estate sector. Increase in policy will have much lower impact on the realtors with strong cash flows. According to a Citibank study, the upward revision in the increase cost will have much lower impact on [...] Continue Reading »
