The Jalandhar-headquartered bank has also plans to expand its branch network by opening 20 more branches in the northern region.
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If you credit score is over 750-800, most banks and housing finance companies will offer their best – that is, lowest – interest rates to you.
Since there is a limit to the loan amount lenders can offer, home buyers will have to contribute 10-25% of the acquisition cost on their own. It is always better to invest early to build such a corpus. While doing so, there are certain dos and don’ts to be followed.
HDFC’s asset quality has been improving in the past few quarters and it wants to sell the stressed loans before its merger with HDFC Bank which will create a financial behemoth
Here are some ways in which housing loan borrowers can reduce their EMI burden ― increase the down payment, prepay the home loan, and switch your lender, among others.
BharatPe, which acquired a 51% stake in the Mumbai-based NBFC, said it has also infused a substantial amount of investment into Trillion Loans to enable its loan book to grow
The Karvy demat scam, which first came to light in the second half of 2019, was orchestrated by the brokerage house by pledging securities lying in the demat account of unsuspecting customers.
Strong profit growth has put Indian financiers’ optimism in overdrive, but is it sustainable? Skimping on loss provisions is risky, especially when this strategy has backfired in the past
In August, Google had stated that it had blocked 2,000 personal loan providers from its app marketplace in India from January 2022 to July 2022.
To meet their growing expenditure, from daily needs and health emergencies to weddings and sending their children abroad for studies, farmers rely on Arhtiyas despite the heavy interest they pay. Arhtiyas remain crucial for the farm economy of Punjab and Haryana
Central Bank of India, Union Bank of India offer the cheapest gold loans at interest rates of 8.45-8.65 percent per annum
The RBI’s draft guidelines discuss details of the penal charges levied by financial institutions, interest rates on late repayment, terms and conditions of the penal charges, and modification of interest rates in line with regulatory orders, and more
According to microloan lenders, customers typically use such loans to buy cattle, set up vegetable shops, etc.
Issuing the rules the RBI said that the quantum of penal charges shall be proportional to the defaults/ non-compliance of material terms and conditions of loan contract beyond a threshold.
Pradhan Mantri MUDRA Yojana (PMMY) was launched on April 8, 2015, by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to Rs 10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating activities.
The non-banking finance company said its customer franchises increased by 3.1 Mn to stand at 69.1 Mn as of 31 March 2023.
Moneycontrol’s Correspondent Harsh Kumar in an exclusive conversation with LIC Housing Finance Limited MD & CEO. Y. Viswanatha Gowd. During the conversation, Gowd talks about the challenges in the housing finance industry. He also said that 30 percent of the borrowers are from this age group 25 to 35.
If you have taken a home loan in the last year or two, the rate hikes would have hit you. Consider making part prepayments to better manage your home loan if your finances allow for it. Floating-rate loans work both ways — if you took advantage of a low rate when starting your loan, you should be prepared to pay a higher rate when rates start rising.
From a high credit card utilisation ratio to violating terms and conditions, like reward policies, there are several reasons credit card companies can cancel your credit card.
BoM has already waived processing fees for its gold, home and car loans under the festive offer, the lender said.
In a floating loan, it doesn't make any difference if you take a loan when rates are high or low, said Mistry.
The penetration of the housing finance market is just 11 percent in India and there is potential to grow to 20 percent, Mistry said.