Page 7 - Home Loan

A snapshot of home loan rates offered by various firms with other details

Here is how the home loan rates offered by various companies stack up

Prepay home loan to combat interest rate hike impact, say experts

If your pocket allows, opt for higher EMI, not a longer tenure

Home loan rate to be costlier; realtors see decent impact on housing demand

The RBI's decision to hike the repo rate will have a moderate short-term impact on housing demand on likely rise in home loan interest rates, according to the real estate industry. With borrowing costs for developers set to rise, many builders said that housing prices might also increase. On Wednesday, the RBI increased the Repo rate by 35 basis points amid inflationary concern. Realtors apex body CREDAI President Harsh Vardhan Patodia said: "Any increase in repo rate has a direct impact on the end consumers, including home buyers, as banks will ultimately pass on this increase to customers and this may impact the current momentum in the short term". Property consultant Anarock Chairman Anuj Puri said there may be some repercussions on housing sales. "This hike will undoubtedly push up home loan interest rates, which had already crept up after four consecutive rate hikes this year. However, as long as interest rates remain in single digits the impact on housing will at best be ...

We see growth fuelled by all our business domains: Brigade Group MD

'If there is an IT slowdown, we see demand consolidating with branded, listed players like ours as a flight to quality'

Onset of festive season pushes credit growth across sectors in September

Housing and vehicle loans lead surge in retail credit, which was up 19.6% YoY

Bank of Maharashtra slashes home loan rate to 8% as part of festive offer

State-owned Bank of Maharashtra (BoM) on Sunday announced a cut in interest rate on home loans to 8 per cent as part of its festive offer. The bank currently offers home loans starting at 8.3 per cent. The rate varies depending on the borrower's credit score. The Pune-based lender has also slashed interest rate on personal loans to 8.9 per cent from the existing 11.35 per cent effective Monday (October 17, 2022), BoM said in a statement. The lender has already waived processing fee for its gold, home and car loans under the 'Diwali Dhamaka' offer. By introducing this offer, the bank is offering one of the lowest interest rates in retail loans, especially home and personal loans, in the banking industry. Market leader State Bank of India (SBI) and mortgage lender HDFC Ltd are offering discounted interest rates on home loans beginning at 8.40 per cent. At a time when interest rates are rising across the spectrum in line with the rising policy rates, BoM is making retail loans cheap

Bengaluru fourth most expensive real estate market in India: Knight Frank

Bengaluru's affordable housing market has become more costly due to the 50 bps hike in the repo rate by the RBI

State Bank of India, HDFC cut home loan rates to 8.4% for new applicants

SBI's loan book crosses Rs 6-trn mark

No material impact of rate hike on demand for home loans: RBI data

Interest rates do not seem to have a material bearing on people who buy their dream residential properties on borrowed funds as the home loan outstanding of banks almost doubled to Rs 16.85 lakh crore in the last five years, shows Reserve Bank data. Even in the first five months of the current fiscal, home loan outstanding of banks has clocked double-digit growth, despite the Reserve Bank raising the key interest rate thrice during this period by a whopping 140 basis points (bps), which led to a hike in the home loan rate. Another hike in repo rate was effected in September by 50 bps. As per the RBI data, the housing loan outstanding of the banks was at Rs 8,60,086 crore at the end of fiscal 2016-17, and the same has increased to Rs 16,84,424 crore at the end of 2021-22. Experts from banking and real estate industry are of the opinion that though interest rates are important, they do not deter a home buyer as the decision is based on current income and future prospects. Also peopl

Maha cabinet allows home loan for police, speeding up Nagpur Metro project

The Maharashtra cabinet has cleared a proposal to allow police personnel to take home loans at subsidised interest rates. The scheme was earlier launched in 2017 and was implemented till 2019, after which it was discontinued by the Uddhav Thackeray-led Maha Vikas Aghadi government. The new Eknath Shinde government has decided to reintroduce the scheme for which the State Police Housing and Welfare Corporation will operate as the nodal agency, a government statement said on Tuesday. The cabinet also cleared a revised proposal of Rs 9,279.06 crore to speed up phase-1 of the Nagpur Metro project. The state has sanctioned Rs 622 crore interest free loan for the Nagpur Metro phase-1 project and also approved the land transfer proposal, the statement said. The cabinet has also cleared the pending project of transportation of the Krishna river water to Marathwada by sanctioning Rs 11,726.91 crore. It will benefit 33,945 hectares of land for irrigation in eight districts, the statement ..

Prepay home loan to tackle 190-bps rise in repo rate since May: Experts

If you don't have a surplus, opt for higher EMI rather than longer tenor

A snapshot of home loan rates offered by various banks and HFCs

Here is how the home loan rates offered by various banks and housing finance companies stack up

HDFC CEO sees pickup in home loan demand in India despite rate hikes

'The economy is buoyant, the feel good factor is high, affordability is better so people are comfortable buying houses even if rates are slightly higher,' says Keki Mistry

Term plan works better for covering home loan liability, say experts

Home loan protection plan may only cover accidental death, which could leave the borrower's nominees exposed

After rate hike, ask your lender to increase home loan EMI, not tenure

A 50-bps hike on a Rs 50 lakh loan of 20-year tenure would increase the EMI by Rs 1,545

What is an Encumbrance Certificate?

Experts advise caution in purchase of property. But how will you know if the house you are planning to buy is free of any litigation or any problem. An Encumbrance Certificate will help you in that

Buy a house only if you don't plan to change city and can afford it

Renting provides flexibility vis-a-vis size of the house and geography, frees up finances

Home sales in India drop 7% in Q2; only 84,930 units sold: Report

Sales have also been hit as home loan interest rates increased over the last several quarters impacting affordability

A snapshot of home loan rates offered by various banks with details

Here's how the home loan rates offered by various banks and housing finance companies stack up

Ahmedabad India's most affordable housing market in H1CY22: Knight Frank

All markets decline in affordability due to rise in home loan rates