Home loans
Home loan borrowers may get access to an alternate window rather than to wait for the Reserve Bank of India to ease interest rates as government is planning to furnish cheap housing credit opportunities. Indian Bankers Association (IBA) has been asked by the government to look into ways to provide affordable credit to home loan [...] 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 »
Housing Development Finance Corporation (HDFC) has sought to revive the market for fixed rate home loans. HDFC has decided to launch a new product where interest rates are fixed for 10 years. Under the new scheme, rates would be 125 basis points lower than HDFC’s existing fixed rate loans. The new scheme is called “Trufixed [...] 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 »
Real estate and home finance executives have stated that Pune and New Delhi have overtaken Mumbai with steady home loan demand. India’s financial capital does not offer a rosy picture for the real estate sector as there are not many new projects that sell in big numbers. In the recent past, most sales have been [...] Continue Reading »
State Bank of India (SBI) has offered an all-time low interest rate to its customers interested in investing in the sector. SBI offers a low interest rate of 10.25 per cent for housing loans up to 30 lakhs and 10.4 per cent for amount above 30 lakhs, said Avinash Kumar, SBI chief manager. A three [...] Continue Reading »
Reserve Bank of India’s (RBI) decision to cut the Statutory Liquidity Ratio (SLR) has begun to show its effects. Indian Overseas Bank (IOB) has reduced home loan rates, for loans up to Rs 30 lakh, by 25-100 basis points. A 50-bps cut in auto loan rates has also been announced. IOB has reduced the spreads [...] Continue Reading »
State Bank of India (SBI) has revealed that it has cut its annual home loan growth target by up to 10 per cent age points. The biggest lender of the country has to revise their target due to sluggish growth in property market. The bank cut its home loan rates on Wednesday by up to [...] Continue Reading »
A day after SBI reduced home and auto loan rates and the National Housing Bank (NHB) announced reduction in the refinance rate under a special scheme for the economically weaker section, there seems to be a possibility of further cut looming in the horizon. Moreover, SBI said that it would cut interest rates on fixed [...] Continue Reading »
The realtors welcome the move by Reserve Bank of India (RBI) to cut the Statutory Liquidity Ratio (SLR) by one percentage point from 24 per cent to 23 per cent. The real estate sector, which is struggling due to the combined effects of diving demand, huge debt and piling inventory, is hopeful of positive effect [...] Continue Reading »
