Home loans
The property expo organised by Central Bank of India (CBI) in association with The Times of India was inaugurated by SK Biswas, the regional manager of CBI, Guwahati. Cent Swapna, the home loan and property expo, organised to provide more home loans to consumers. The main aim of the expo is to help people buy a car or [...] Continue Reading »
Despite the downfall in affordability, the Indian home loan market is expected to grow by 17-19 percent in the current fiscal year, according to credit rating agency IRCA. Lower home loan rates, attractive schemes, etc. fuel the home loan market growth in 2012-2013, said IRCA. Because of the high cost of properties in India, tough operating [...] Continue Reading »
The Union bank of India, a Mumbai based public sector lender, has decreased the interest rates on home loans above Rs 30 lakhs by 25 basis points. The bank is now offering home loans up to 75 lakhs at the base rate which is 10.5 percent. Loans above Rs 75 lakh and up to Rs [...] Continue Reading »
The government has decided to raise the amount on annual income for Economically Weaker Sections (EWS) and Lower Income Groups (LIG) to get the benefits of housing scheme. The income declared for EWS have been raised to Rs 1 lakh from Rs 60,000 and for LIG it has been raised to Rs 2 lakhs as [...] Continue Reading »
DHLF the mortgage lender has cut its home loan lending rates by 0.25 per cent across categories for new customers. This is the second time the lender reducing interest rates within a month. It said in a statement that the variable rate of interest for loans of up to Rs 15 lakh has been cut [...] Continue Reading »
Indian Banks’ Association committee has recommended to the Finance Ministry that home loans up to Rs 35 lakh should get the priority sector tag. This will help banks to provide loans to house buyers at affordable interest rates. Also it will benefit a large group of customers in Tier II and Tier III towns. Moreover [...] Continue Reading »
In order to boost demand in the economy, public sector banks have either cut interest rates or waived home loans processing fee in response to Reserve Bank of India’s (RBI) monetary policy and finance minister P Chidambaram initiative to revive growth. Several lenders have cut interest rates for home loans such as Bank of Baroda, Bank [...] Continue Reading »
Edelweiss Housing Finance to introduce housing loans of less than Rs 10 lakh in Madurai. The firm target the low income group and those constructing their own homes in Chennai suburbs and small towns and in Tamil Nadu. The target of the plan is to focus on self employed and small and micro entrepreneurs and [...] Continue Reading »
The rate of interest may not have fallen significantly this year, but due to the difference in new and old home loan interest, the borrowers are shifting their loan from existing lenders to cheap lenders. The State Bank of India (SBI) is offering Rs 30 lakh home loan for the new borrowers at the most [...] Continue Reading »
State Bank of India (SBI) are looking forward to raise its home loan portfolio by Rs 2 lakh by March 31, 2015 . The home loan portfolio has recorded a growth of 73.86 per cent against Rs 62,338 crore as on September 30, 2009. The bank will target Tier II and Tier II cities for [...] Continue Reading »
