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SBI’s home loan segement growing after rate cut

SBI’s home loan segement growing after rate cut
State Bank of India (SBI) is witnessing a significant growth in its home loan segment since it cut rates in the beginning of August. Officials of the country’s largest lender revealed that number of home loan applications being received per day has now doubled to 800 from 400. However, the officials stated that since there [...] Continue Reading »

Home loans to become cheaper

Home loans to become cheaper
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 »

Relief to home loan borrowers on the horizon

Relief to home loan borrowers on the horizon
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 »

HDFC launches revives fixed rate home loans

HDFC launches revives fixed rate home loans
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 »

Small borrowers struggling to service home loan

Small borrowers struggling to service home loan
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 »

Mumbai overtaken by Pune, NCR in home loan demand

Mumbai overtaken by Pune, NCR in home loan demand
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 »

SBI offers low interest rate on home loans

SBI offers low interest rate on home loans
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 »

New housing bill criticized in Maharashtra

New housing bill criticized in Maharashtra
The new Maharashtra Housing (Regulation & Development) Bill, 2012, came under attack from housing experts as they labeled it ‘builder friendly’. Activists, housing societies and flat buyers claimed that not only was it poorly drafted, but also failed to maintain transparency and stated that it is a watered down version of the repealed Maharashtra Ownership [...] Continue Reading »

IOB reduces home loan rates

IOB reduces home loan rates
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 »

SBI reduces home loan growth target

SBI reduces home loan growth target
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 »



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