Page 4 - Home Loan

Buying a home? Explore the best loan rates offered by banks

Terms vary and are influenced by several factors including your creditworthiness, loan amount, profession

RBI allows home loan disbursals sanctioned before Oct 20: Navi Finserv

Sachin Bansal's Navi Finserv, which has been barred from giving fresh loans, on Tuesday said the Reserve Bank has allowed it to make scheduled home loan disbursals sanctioned before October 20. Earlier this month, the RBI had ordered Navi Finserv to cease and desist from sanctioning and disbursing loans effective from the close of business of October 21 on material supervisory concerns, including usurious pricing. "The Reserve Bank of India (RBI) has allowed Navi Finserv to start making scheduled home loan disbursals, sanctioned before October 20, 2024. The permission has been provided until December 31, 2024," the Bengaluru-based firm said. It further said the decision offers substantial relief to many homebuyers whose home loans were sanctioned before the regulatory action by the RBI and who are awaiting their already scheduled disbursals. Besides Navi, the central bank had put similar restrictions on three other NBFCs -- New Delhi-based DMI Finance Private Limited, Kolkata-based

Festival offers on home loans: Avoid teaser rates that reset after months

Compare offers from various lenders on criteria like interest rates, processing charges, tenure, discounts, repayment flexibility

Real deal about festival home loan offers; starting marathon running

This week we report about how to review a discount home loan and what you need to take up running

Housing finance firm WEAVER acquires Capital India Home Loans for Rs 267 cr

The company will raise up to Rs 800 crore from private equity funds to finance the acquisition and fuel its expansion plans

Planning to buy a home? Explore the best loan rates offered by banks

Interest rates depend on the customer's creditworthiness, loan amount, professional background, among other factors

Paying off home loan or making an investment: Which is a better option

Younger people may invest for they have a longer time horizon, while those nearing retirement might focus on debt reduction

Home loan origination volumes decline 9% in June quarter, says report

Home loan originations dropped 9 per cent in the June quarter, according to a report released on Monday. From a value perspective, quantum of home loan originations was at par with the year-ago period, the report by credit information company Transunion Cibil said. The outstanding balances on home loans grew only 14 per cent during the quarter, making it the slowest growth across all categories which constitute retail lending, the report said. Interestingly, the decline in origination volumes and the sluggish growth in outstanding balances came at a time when the incidence of non-payment of loans reduced during the quarter, the report said, pointing out that the advances overdue for over 90 days stood at 0.9 per cent in June 2024, showing a 0.32 per cent improvement. "India's retail credit growth moderated in the quarter ending June 2024 as financial institutions tightened the supply of credit, particularly on consumption-led products like credit cards, consumer durable loans and .

A place of your own: How to decide about buying a home in a big city

More and more Indians are buying apartments rather than living on rent

Madras High Court judge disputes home loan repayment; SBI seeks transfer

The dispute stems from a home loan taken by the Madras High Court judge for a partially constructed property that was later demolished

Home loan interest rates in August 2024: What top 20 banks are offering

Take a look at the top 20 banks that offer the lowest Interest rates for home loans

What is co-applying for home loan? Know risks and benefits

A co-applicant may be named as the secondary applicant on the joint home loan but may share same loan repayment responsibilities and benefits that go with a home loan

Check list of documents to secure after closing your home loan

Completing the home loan closure process involves more than just paying off the loan; it requires careful attention to detail in collecting and verifying essential documents

Selling your home? Here are tips for a hassle-free transaction

Seek valuations from several reputable real estate agents to get a clear idea of your property's worth

Beware, over-leveraging with top-up home loan could cost your home

A top-up home loan's tenure can, in theory, extend up to the residual tenure of the home loan

RBI holds repo rate at 6.5%, home loan EMIs unchanged: What you must do now

The unchanged repo rate means there will be no immediate effect on home loan EMIs

Naredco suggests raising tax relief on home loan interest to Rs 5 lakh

Realtors' body NAREDCO on Tuesday suggested that the tax exemption on interest on self-occupied property loans should be increased to Rs 5 lakh in the upcoming budget from Rs 2 lakh currently to boost housing demand amid a rise in housing prices and mortgage rates. Builders also sought some tax incentives to boost demand and supply of affordable homes. NAREDCO noted that under Section 24 of the Income Tax Act, the deduction allowed on interest on loans for self-occupied property is limited to Rs 2 lakh. "Given the rising property prices and interest rates, NAREDCO proposes increasing this limit to at least Rs 5 lakh," the association said in a statement. The realtors' body mentioned that currently the annual value of property held as stock-in-trade and not let out is considered nil for up to two years from the end of the financial year in which the construction completion certificate is obtained. After this period, the notional income is taxed. It suggested that this provision sho

Cancelling credit card, uncluttering home: Top personal finance stories

Our top stories this week tell you about the procedure to cancel a card and the various storage solutions for your home

Outstanding credit to housing up by Rs 10 trillion in last 2 years: RBI

Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'. Experts from banking and real estate sectors attributed this growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand. According to the data of the Reserve Bank of India (RBI) on sectoral deployment of bank credit for March 2024, the credit outstanding to the housing (including priority sector housing') stood at Rs 27,22,720 crore in March 2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022. The data also showed that the credit outstanding towards commercial real estate stood at Rs 4,48,145 crore in March 2024. It was at Rs 2,97,231 crore in March 2022. According to reports from various property consultants, housing sales and prices have surged significantly in

Home loan: Don't forget to ask your lender these questions before applying

Given the long-term commitment of a home loan, understanding its terms and conditions is crucial before you apply