The huge surge in bank deposits due to demonetisation has led to banks reducing lending rates to the lowest in the last 6 to 8 years. Leading the pack, is SBI which has reduced its home loan rates by 50 basis points (bps) to as low as 8.5 per cent (fixed). Even, HDFC, the largest […]
For most people, a home loan EMI is usually the largest monthly EMI payment liability that they have to manage in their lifetime. Moreover, a home loan is a long term commitment (usually 20 years or more) and keeping up with regular EMI payments may not be easy if you lose your job, incur losses […]
Owning our own home is a dream for most of us. However, skyrocketing property prices across the country make buying a residential property difficult, especially early in life.
Buying a home often tops the list when it comes to the aspirations of an average Indian. After all, who wants to keep paying rent all their life? But the skyrocketing property prices in cities, as well as small towns, make home-buying a pricey affair for the mid-income professionals. To assist them, banks and NBFC have […]
Prime Minister Narendra Modi’s vision, when he came to power in 2014, was to provide houses to poor families by the time India completes its 75th year of independence. This vision culminated into the Pradhan Mantri Awas Yojna: an effort to provide homes to the needy.
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Firstly, based on good repayment track records, your good credit score, etc. you as a borrower could try and renegotiate with your current lender to let you avail lower home loan interest rates. In case your bank does not oblige, transferring the home loan to a new borrower becomes the best option.
Saving is an extremely important aspect of the financial planning of every individual. However, there may be times when you pass through a rough patch and require a bit of financial aid to tide over troubled times.
Both home loan and land loan are availed to acquire a property. However, home loans are availed for properties that are already constructed, are under construction or will be constructed in the near future.
Equated Monthly Instalments or EMI’s often form a sizeable component of the monthly expenditure in case of most salaried class homebuyers or those with personal loans. The priority for most of these borrowers is to prepay/partly pay the loan as early as possible. This would save them from paying extra interest on the loan apart […]
