Page 6 - Home Loan

More clarity on EMIs, tenor: Borrowers can soon switch between floating, fixed loans

RBI is also asking for options to switch to fixed rate loans, which are not typically offered by most banks.

Top Benefits of Transferring Your Home Loan Balance to Another

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Realtors hopeful of sustaining strong sales with RBI keeping rate unchanged

India's housing market will continue to witness higher sales velocity with the RBI keeping key interest rate unchanged, real estate industry experts said while hoping for a repo rate cut in the next round of monetary policy to boost growth. The Reserve Bank of India (RBI) on Thursday decided to keep the repo rate unchanged at 6.5 per cent. Commenting on the development, realtors' body CREDAI National President Boman Irani said, "... We expect both housing supply and demand to sustain its ongoing momentum." "However, given that the inflation is at an 18-month low, there is scope for the RBI to reduce repo rates in the upcoming MPC meetings, to stimulate growth across all industries," Irani added. Real estate industry body Naredco's President Rajan Bandelkar hailed the RBI move, saying it will help the housing sector that has been performing well from the past two years. Nonetheless, he said, adding the sector needs announcements that could further fuel the growth. With the festive

RBI policy: Is the worst over for home loan borrowers?

On June 8, 2023, the Reserve Bank of India announced to keep the key repo rate unchanged at 6.5 per cent. What does this mean for home loan consumers? Watch the video to find out

Global housing markets outlook brightens despite higher rates, finds survey

House prices rising in some markets are complicating central banks' efforts to bring overall inflation under control as rental costs can make up about a third of inflation baskets

Housing loans rise 15% to Rs 19.36 trn despite high-interest rates

Housing loans outstanding rose 15 per cent year-on-year to a record Rs 19.36 lakh crore at March-end, notwithstanding the Reserve Bank's rate hike spree since May last year, showed central bank data released on Friday. The housing loan outstanding at March-end 2022 was Rs 16.84 lakh crore, a growth of 12.9 per cent year-on-year. The loan outstanding for housing (including priority sector housing) was Rs 14.92 lakh crore in March 2021. The Reserve Bank has hiked the benchmark rate by 250 basis points since May 2022, leading to a firming up of interest rates on all loans, including for purchasing residential properties. Releasing the data on 'Sectoral Deployment of Bank Credit March 2023', the central bank said personal loans registered a growth of 20.6 per cent (year-on-year) in March 2023 compared to 12.6 per cent a year ago, primarily driven by housing loans'. The personal loans segment includes consumer durables, housing, advances against fixed deposits, credit card outstanding,

Home loan borrowers turn to refinancing amid rise in interest rates

Lenders cut spread to attract new customers

Home loan demand declines, special interest rates to continue

CMI findings show a marked increase in demand for credit cards and personal loans, indicating growing adoption of consumption-led credit products that provide convenience and liquidity

Andromeda expects 15% growth in loan disbursals to Rs 70,000 cr in FY24

Loan distributor Andromeda expects around 15 per cent growth in loan disbursals to Rs 70,000 crore during the current fiscal, driven primarily by housing and personal loans demand. The loan disbursals of Andromeda have grown multiple times from Rs 36,842 crore in FY 2021-22 to Rs 60,000 crore in the year ending March 2023, Andromeda Sales and Distribution Pvt Ltd Co-CEO Raoul Kapoor said. Despite the Reserve Bank of India raising the key interest rate since May 2022, the demand for housing loans has not been significantly impacted and the homebuyers understand that the rates would come down eventually, he said. "We expect 12-15 per cent growth in the business during the current financial year," he said. Andromeda has been witnessing a large number of queries from prospective home buyers, which is a positive sign for the company's future growth, he added. Sharing numbers of last year, Kapoor said home-loan disbursals were Rs 26,328 crore at the end of March 2023, up from Rs 17,505

DBS Bank to enter affordable home loan segment by end of this fiscal

DBS Bank India on Tuesday said it will enter the affordable home loan segment by the end of this financial year as the lender looks to expand the retail portfolio. The bank is looking to launch the product during the fourth quarter, DBS Bank India Executive Director (Head-National Distribution) Bharath Mani said here. "We are targeting mostly customers in Tier II and Tier III cities for this product," he said, adding that the bank will launch proprietary credit cards by June. The proposed credit card would be targeted at affluent and super affluent segments, he said. Currently, the bank has a co-branded credit card with Bajaj Finserv and a customer base of 2,00,000. Meanwhile, DBS Bank India has announced a partnership with IndiaFilings, a leading platform for startups and small businesses in India. The partnership will enable the bank to provide end-to-end financial services support to new companies and startups through a co-branded portal. In a statement, the bank said the ..

Home loan rates over Rs 75 lakh to get dearer as risk weight rises again

Risk weight back to pre-pandemic level of 50%

Macrotech sells properties worth Rs 12,064 cr in FY23, sales rise 34%

Realty firm Macrotech Developers' sales bookings rose 34 per cent to a record Rs 12,064 crore in the last fiscal, on better demand despite rise in interest rates on home loans. Mumbai-based Macrotech Developers, which sells homes under the Lodha brand, is one of the leading real estate firms in the country. In a regulatory filing, Macrotech Developers said it has delivered a strong pre-sales momentum with sales bookings of Rs 3,025 crore in the fourth quarter of last fiscal and Rs 12,064 crore for 2022-23 fiscal. The company said it has surpassed the full-year guidance of Rs 11,500 crore. The collections of money from customers stood at Rs 10,606 crore for FY23, up 23 per cent YoY (year-on-year). Net debt has further reduced to Rs 7,071 crore, showing a decline of Rs 2,229 crore for the year. Abhishek Lodha, MD & CEO, Macrotech Developers, said the company has achieved yet another quarter of strong performance enabling us to surpass its annual guidance. "The icing on the cake is

RBI rate hike touch & go affair amid inflation, growth concerns, swaps show

Policy decisions this week from some of the Reserve Bank of India's global peers offer a good reason for the split

Make part-prepayments to cut home loan tenor, but don't use retirement fund

Another option is to switch to another lender who is willing to refinance at a lower rate

Home truths: High loan rates and job losses threaten price growth

But if rate cuts begin and layoffs are limited, the housing market could repeat FY23's performance

Know How You Can Enhance your Home Loan Eligibility

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BoB cuts interest rates on home and MSME loans taken till month end

Reduces home loan rates by 40 bps, available to those with credit score of 751 and above

HDFC Ltd hikes home loan rates by 25 basis points effective March 1

However, lender has a limited period festive season offer, under which borrowers with credit scores of 760 and above can get home loans at 8.7% till March 31

'Mortgage guarantee can help you get longer-tenure loan with lower EMI'

With interest rates on home loans rising, borrowers are struggling to meet the eligibility criteria of lenders. One product they should consider is mortgage guarantee. Here's what Shrikant Shrivastava

House rent allowance: Tax exemption can be claimed on rent paid to parents

Prepare an agreement, pay rent into their bank accounts, and ensure they pay tax on it