"The waiver will continue for proposals sourced up to October 15," the circular read
The floating rate is linked to an external benchmark and will be independent of the loan amount or duration.
The borrower needs to repay a minimum of three per cent of the principal loan amount every year
Interest on housing loan paid outside India can be claimed as a deduction in calculating income from house property, only if some important conditions are met
SBI Chairman Rajnish Kumar said the lender will be seeking clarification from the RBI to see if it can offer teaser loans.
The economy does not move in a linear fashion, but is instead swamped with its share of ups and downs. Post the 2008 and 2013 meltdown, we are witnessing another cyclical slowdown in India.
Repayment of personal loans is draining as interest rates and charges are very high
The agency has thus downgraded the NFBC sector’s mid-year outlook from stable to negative as potential defaults may further weaken wholesale NBFCs and HFCs, which are already facing a crisis
The RBI has made it compulsory for banks to link their new floating rate home, auto and MSME loans to an external benchmark from October 1 so that the borrowers can enjoy lower rate of interest.
Lenders prefer customers with stable or predictable cashflows
A rental deposit loan is useful only for borrowers who cannot repay higher EMIs of personal loan schemes. But, during the loan tenure, you end up paying higher interest charges.
If your existing lender does not offer lower rates, it may be advisable to transfer to a better financial institution offering attractive deals
You have to wait out the reset period, which varies from three months to one year, to enjoy the benefits of the MCLR cut.
The unconventional decision is the latest in a series of moves central and commercial banks in advanced economies have undertaken to revive demand and boost consumption.
This insurance helps fulfil the basic purpose of buying a house—that of taking care of the family, more so in your absence.
Borrowers of repo-linked home loans are able to benefit from the cut in interest rates from the month after the RBI’s monetary policy announcement.
The government has acknowledged that lending to the sector has stalled and assured of steps to encourage banks to push loans
While lifestyle is important, respondents have revealed that fulfilling family needs and their wishes constitute the single topmost reason for people wanting to take a new loan.
Transmission of rate cuts to home buyers seen as crucial; more steps needed to enhance liquidity for better-placed NBFCs and HFCs
Many experts say RBI has to ensure that the banks transmit lower rates to customers.
In case your financial institution charges a foreclosure penalty on home loans, raise a complaint with the branch.
Ocean Deity, the majority stakeholder, charged that the sums were disbursed for loans taken by the infra company from the bank, without its authorisation
Every credit card may have a different due date and credit limit, so one can leverage it to the maximum. These are choices customers need to make based on their lifestyle and usage.
A little bit of planning and research can make your travel more enriching because of all the potential savings on money as well as time.
Loan disbursement will strictly be linked to the progress in the construction of the property.