Sakshi Batra does a 3 point analysis of the reasons behind SBI's move and will that prompt other lenders to follow suit.
While the RBI guidance was to pass on the benefit of falling interest rates to borrowers by linking lending rate to an external benchmark, SBI has also linked its savings bank rates (over a limit of Rs 1 lakh) to the external benchmark.
Coming down heavily on the prime minister, the Congress chief said the PM-KISAN scheme launched by the Centre is nothing but an attempt to make mockery of poor farmers by doling out a paltry sum of Rs 6,000 annually.
This is in addition to Rs 1,332 crore already approved by the Cabinet Committee on Economic Affairs (CCEA) in June 2018.
Addressing a function Sunday in Rajgarh district, over 130 kilometres from here, Nath said the farm loan waiver process would continue until all beneficiaries are covered.
Concerns have been expressed that the law is extremely harsh and will lead to hardship for many individuals, small businesses etc. Doubt have been expressed as to whether personal loans are covered by the ban under the Ordinance
The lower the loan-to-value ratio, the better the other terms and interest rates on your home loan.
Piramal Capital lays out easy money to borrow your dream house. However, with this finance scheme you may end up buying a home bigger than your means.
P2P lending platforms connect borrowers with individual lenders, who come together to meet the borrowers’ loan requirements
To continue the momentum of infrastructure creation, the Budget is expected to focus on addressing the needs of the common man, especially in terms of extending tax incentives for housing.
Credit line loans can be a blessing when used wisely but can turn into a nightmare if used indiscriminately.
The ready to move in houses are the best option as it reduces the risk for the buyer.
If the benchmark is external, the bank does not have any control or influence, and the reset of loan rates will be more equitable and fair.
Delhiites took the highest ticket sized home loan (Rs 5 crore), followed by Chennai (Rs 2.2 crore), Bengaluru (Rs 1.5 crore) and Mumbai (Rs 1.8 crore).
Another trend highlighted in the report is that women are availing larger home loans as compared to men
It is important to identify whether you are ready to purchase your first home and this depends on a few factors other than arranging your down payment and paying monthly EMIs.
Key factors lenders must check while registering on P2P lending platforms are credibility of peer-to-peer lending platforms, understanding the risk and return trade-off, ease and simplicity of investments on the specific platform
A taxpayer can claim deduction of the amount paid towards repayment of the home loan from his income. Such loan must have been borrowed from specified entities like the government, bank, LIC, entities engaged in housing finance or specified employers.
Understand the conditions attached to make the most of it.
Compare wedding loan offers from multiple banks and NBFCs then choose the offer that most suits you. There can be significant savings in interest, processing fees and other charges by comparing and choosing the loan scheme carefully
Banks offer loans on fixed interest rate and floating interest rates. So, often borrowers are in dilemma which interest rate to select while applying for a loan.
As of March 31, 2015, education sector bad loans stood at 5.7 percent, the minister said citing IBA data.
Here are a few things to check before availing a personal loan:
The drawback of a step-up scheme is that you may end up taking a higher EMI commitment based on future income, which is uncertain.
In the meantime, the sector continued to sit on the mount of NPAs even as efforts continued in courts and tribunals and other forums for recovery of stressed assets, further confounded by defaulting promoters of defaulting corporates coming back to reclaim their assets when they were put on sale by aggrieved lenders.