Page 5 - Home Loans

RBI looking at additional loans for home buyers of stuck projects

A meeting of a committee was held on June 19 to discuss issues related to "legacy stalled projects" in real estate

In a first, Bajaj Housing Fin offers extended home loans: Should you opt?

Whenever you opt for a loan scheme, you must thoroughly examine your financial situation, income stability and existing debt.

What a hike in MCLR means for borrowers: Who gets impacted and who doesn't

Marginal Cost of Fund based Lending Rate refers to the minimum interest rate a bank must charge for lending. The bank cannot grant any loan below that rate, except in certain cases permitted by RBI

Explained: Repo rate unchanged at 6.5%, worst over for home loan borrowers

The lowest rates being offered in the home loan market today are in the 8.40 to 8.50 for eligible borrowers.

RBI policy: How a repo rate hike/cut impacts your home loans and EMIs

The EBLR serves as a benchmark rate that determines the interest rate applicable to the loan. So, with the hike in repo rate, all existing home loans on floating rates of interest became expensive.

Thinking of prepaying your home loan? Things you should keep in mind

If home-owners have received a bonus, they may consider investing it in the capital markets instead of prepaying the loan

UCBs seek hike in cap on home loans, separate limit for commercial realty

Have also asked for revision in norms for gold loan repayments

Home loans inquiries slowing; marked increase in unsecured credit: Report

Home loans, the mainstay of retail lending, witnessed a dip in demand in the December quarter, a credit information company (CIC) said on Wednesday. However, there has been a 'marked increase' in demand for credit cards and personal loans, which constitute the more stressful unsecured loans portfolio for banks, Transunion Cibil said. The demand for unsecured lending products is being driven by the adoption of consumption-led credit products, the CIC said. Inquiry volumes for home loans for the three months ending December 2022 were 1 per cent lower than the year-ago period, while the same for personal loans and credit cards shot up by 50 per cent and 77 per cent, respectively, it added. From a loan origination perspective, home loans witnessed a 6 per cent dip by volume and 2 per cent by value in the December quarter against a healthy uptick in personal loans, credit cards and two-wheeler loans segment. It can be noted that the period saw a surge in interest rates, which led to ..

Top Headlines: Home loan rates to get dearer, Covid-19 tests up 84% & more

Business Standard brings you the top headlines at this hour

RBI rate pause: Lock into best available FD rates, and ladder your bets

Debt MFs investing in quality papers and having average maturity of three-five years are good bets

Gift, loan, house rent: How your family can help in saving taxes

Provisions in the law allow your parents, spouse and siblings to maximise your tax returns

Costly home loans pinch realtors, worry about financial closure of projects

Worry about financial closure of projects if interest rates go up any further

Consider switching home loan if you can get 35-45 bps lower rate

Avoid extending the tenure while transferring as this will nullify the gains

New and old: How two tax regimes work for home loan interest benefit

You can benefit under the new tax regime but there are a few caveats

How have the home loan EMIs changed since RBI's repo rate hike in May 2022?

The deposit and lending rates are directly proportional to the repo rate, and they generally go up if the benchmark rate is hiked

Prepay at least 5% of your home loan each year to tackle rising rates

With rates cuts unlikely anytime soon, debt mutual fund investors should avoid duration calls

Affordable housing demand to remain low as home loan rates rise: Experts

Some believe the impact of the interest rate hike has been limited and would not dampen homebuyers' spirit much, as demand remains high

LICHF hikes lending rate by 0.35 pc, home loans to cost 8.65 pc now

Mortgage lender LIC Housing Finance joined peers and hiked its lending rate by 0.35 per cent. The move, which comes a week after an increase by bigger rival HDFC by a similar quantum, entails that the minimum rate of interest will get revised to 8.65 per cent for the best-rated borrower. In a statement, the company said it has increased the LIC Housing Prime Lending Rate (LHPLR), to which the interest rate on its loans is linked, by 0.35 per cent. "The increase in rates is in tune with the market conditions," the company's managing director and chief executive Y Viswanatha Gowd said. He added that there is good sustenance in the home-buying activity in the real estate sector at present. It can be noted that the Reserve Bank has hiked the repo rate, at which it lends to the system in five consecutive moves by a cumulative 2.25 per cent since May this year. Lenders in the system have responded to the hikes affected by the RBI.

Sum total of all your EMIs should not exceed 40% of your net income

Make sure buying a house will not lead to compromises on other crucial financial goals

SBI's personal banking advances excluding home loans cross Rs 5 trn mark

SBI on Monday announced that its personal banking advances excluding high value home loans have crossed the Rs 5 lakh-crore mark. The largest lender in the country took a year to book the last Rs 1 lakh crore of advances, as against over 15 months for the previous Rs 1 lakh crore and over 30 months for the previous Rs 1 lakh crore, as per an official statement. "A series of tactical measures and digital initiatives undertaken over the past few years played a crucial role in our journey to the Rs 5 lakh-crore mark under personal banking advances," the bank's chairman Dinesh Kumar Khara said. Khara stressed that the Rs 5 lakh crore excludes housing loans, where the bank has the numero uno position in the market. Personal Banking advances mainly comprise personal loans, pension loans, auto loans, education loans, gold loans, and other Personal loan products, the statement said. SBI has 22,309 branches, over 65,000 automated teller machines and also 66,757 business correspondent outle