Customers with regular repayment will get 12 EMIs waived – 4 EMIs each after the fourth year, eighth year and the twelfth year from the first disbursement.
Customers can also negotiate with their respective banks to ask for a waiver of the charges as banks would fear losing their clients
State Bank of India (SBI), country’s largest lender cut interest rate on home loans above Rs 75 lakh by 10 basis points (bps) to 8.60 percent.
Lenders and builders both expect home loan rates to come down. However, there could be a wait of a couple of months
Now, SBI, ICICI Bank and LIC Housing Finance offer lowest home loans rates at 8.35% for women and 8.40% for the others
From interest rate reduction on home loans to being charged for ATM withdrawal for wallet and no-frills account users to capital raising and merger talk of banks and some smaller public sector bank results where bad loans continued to grow, all happened in the second week of May.
Both interest and principal repayment of home loan fetches you tax shelter.
The NBFC will offer loans to women at 8.35 percent.
To whom are these reduced rates applicable The reduction in State Bank of India‘s (SBI‘s) rates, is not as widely applicable, as is made out to be. It is not that the home loans R
The subscribers of the Employees Provident Fund Organisation (EPFO), will now be able to withdraw up to 90 per cent of their accumulations in their PF account, for purchase of homes. The EPFO has R
For new borrowers, the MCLR or the marginal cost based lending rate which was last reduced in January to 8 percent for a one-year loan and 8.15 percent for three-year loans, remains unchanged.
A borrower can shift the home loan to any other lender, who is willing to offer better interest rates. At times, a home loan applicant may also want to increase the loan‘s tenure, due R
Earlier, whatever interest that a borrower paid against a housing loan, was allowed to be completely adjusted from the income, as a deduction. Now, this deduction has been capped to Rs 2 lakhs and R
It is really important that we do think of the financial implications the house will have on other aspects of our lives.
Banks have their reservations as well. With housing prices going up constantly and banks having a good deal of NPAs, lenders also evaluate the property and the borrower‘s profile before handing out loans.
The Union Budget 2017-18 has proposed some provisions, which will boost the affordable housing sector but at the same time, will discourage tax payers from treating real estate as an investment class. One such R
It is better to do the home work before signing above the dotted line. Home loans being large and long term liability it makes all the more important to understand what matters.
Besides checking an applicant‘s eligibility for a home loan, lenders also have certain criteria to ascertain the quantum of home loan that they can grant to the person. Income An applicant‘s income, is R
Under the present tax laws, a person is taxed on profit from the sale of any immovable asset held as a capital asset, under the head â€˜capital gains‘. For computing capital gains, the immovable R
Pre-payment reduces your interest burden, reduces the tenor of your loan, and ensures long-term savings for you.
There are various factors that determine whether you will get a home loan or not. Consequently, it is advisable to know your home loan eligibility in advance, so that you can plan the purchase R
Several real estate companies in the city have managed to raise Rs 3,400 crore in the period since the government decided to junk popular bank notes, according to a report in Financial Express.
Though government is expected to bring in some reduction in the income tax rates for individuals, there is a possibility of a cash withdrawal tax.
The year 2017 has begun on a good note for home loan borrowers, with significant cuts in interest rates being announced by most banks. Experts point out that the reduction in the interest rates, R