home loan
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 »
Various leading banks have now made it possible for the home buyers to pay back their loan at leisure. Banks have adopted this policy in order to improve their retail credit group. The first ever bank with the longest year of repayment in the India’s banking history is the State Bank of India (SBI) with [...] Continue Reading »
AECS Layout, one of the preferred residential localities in Bangalore, has been perceived as having potential for investment in residential plots. The locality has BDA (Bangalore Development Authority) approved layouts, which are high on demand for its good facilities and affordable prices.Approval from BDA facilitates loan procedures as banks provide 100 per cent loans for [...] 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 »
While the home loan and auto loan market get saturated among the creamy layer of metros, banks seem to concentrate on Tier II and Tier III cities. Whether it be country’s largest mortgage lender, HDFC or other big players like BNP Paribas Home Finance or Kotak Mahindra Bank, everybody is looking at growing small cities. [...] Continue Reading »
The finance ministry is to meet chief executives of leading banks to discuss credit flow to the real estate and housing sectors. D K Mittal, secretary of financial services, will chair the meeting of bankers, which will record stock of credit flow to the sensitive sectors. A committee of bankers had been set up to [...] Continue Reading »
Following the the State Bank of India (SBI), Syndicate Bank, Indian Overseas Bank and Union Bank of India, state-run Punjab National Bank has also announced a reduction in its interest rate on housing loans by 25 basis points across the board. Now a potential customer can take a 15-year floating rate loan of Rs. 20 [...] Continue Reading »
State-run Housing and Urban Development Corporation (HUDCO) has declared to restart lending for home purchases with the launch of a competitively priced product. The new product has been dubbed as the most competitive home loan product available for salaried individuals. Interest rate on the product beats the 10.25 per cent of the largest lender in [...] Continue Reading »
Home loans are to become cheaper in near future. While some banks have already slashed their interest rates while others are planning to do the same. The finance ministry has already asked bankers to reduce equated monthly installment (EMIs) on home loans. State-owned Central Bank of India has decided to reduce home loans by 10 [...] Continue Reading »
Prime Minister Manmohan Singh has announced the launch of a home loans scheme – Rajiv Housing Loan Scheme. It will provide interest subsidy on home loans of less than 5 lakh. The new housing loans scheme is aimed at the urban poor of the country. The new scheme was announced on Independence Day. The PM [...] Continue Reading »
