March 31, 2023 01:44 PM IST

LIC Housing Finance MD & CEO on rising interest rates, competition in housing finance industry | LIVE

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.

With rates rising, should you prepay your home loan now?

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.

What are conversion charges in home loans?

Bank of Maharashtra cuts home loan rate to 8.4%

BoM has already waived processing fees for its gold, home and car loans under the festive offer, the lender said.

MC Exclusive| HDFC’s Keki Mistry: Cross selling housing loans growth stronger in the bank

The penetration of the housing finance market is just 11 percent in India and there is potential to grow to 20 percent, Mistry said.

Why are home buyers choosing banks over NBFCs?

Most EMIs are being paid on time, but foreclosures have risen slightly: Ambuj Chandna, Kotak Mahindra Bank

Despite the pressure from rising interest rates, Kotak Mahindra Bank’s President – Consumer Assets, says the lender hasn’t seen many loan restructuring requests.

Despite rate hikes, home loan demand up in Rs 30-50-lakh, Rs 50-75-lakh segments

Repo rate hikes have been passed on to home loan borrowers, which have led to a significant increase in EMIs ranging from 10-25 percent, says Amit Diwan, Chief Distribution Officer, IMGC

Increase home loan EMIs or tenure: What should borrowers do?

Existing home loan borrowers have two options to cope with rising interest rates. Increasing the tenure doesn’t burden your monthly outgo, but banks might not allow it if the repayment period goes past your retirement age

About to take a home loan? May be prudent to stay with the old tax regime

Budget 2023 offers a number of tax benefits for those who choose the new tax regime. But for those making home EMI payments and claiming house rental allowance, it may make more sense to stick with the old tax regime.

Fed policy: Not a pivot but just a shift in gear -- What is in it for investors?

Valuation should be the touchstone to pick stocks from export-oriented sectors for the long term; for the risk-averse, companies catering to domestic demand could be good picks

With EMI burden rising, will Budget 2023 give more sops to home buyers?

Real estate experts say that tax deduction benefits to repay principal and interest amounts haven’t been raised in many years. Interest rate hikes and increased demand through the Covid pandemic should nudge the government to give sops to home-buyers, they add.

RBI rate hike: Borrowers stare at higher EMIs, reduced eligibility; depositors stand to gain

Existing home loan borrowers may see EMIs rising as there is not much room for loan tenures to increase. On the other hand, they may gain from a likely rise in fixed deposit rates

BoB lowers home loan rates by 25 basis points to 8.25%

At 8.25 per cent, BoB's rate is lower than that of the segmental leaders SBI and HDFC.

Applying for a home loan? How sanctioned amount is different from disbursed amount

Can a home loan borrower avail a loan for less than the sanctioned amount? Can a home loan get rejected after the bank has issued a sanction letter? For answers to these and many other issues that home loan borrowers should be aware of, read on.

Income-tax deductions on home loans made easy: Part 2

Yes, you can avail of some tax benefits on a home loan if you borrow the money from family, friends on new-age lenders. Read on to find out how and to learn more about other tax benefits on home loans.

Income-tax deductions on home loans made easy: Part 1

You need to be a co-owner as well as co-borrower to claim a tax deduction against a home loan. Further a deduction cannot be more than the amount of your contribution. Read on to find out what other rules govern home loan deductions.

Use Diwali bonus to prepay your home loan and become debt-free sooner

If you pay EMIs on multiple loans, it makes sense to use your Diwali bonus to pay off your credit card and unsecured loans first. Your home loan should come next. But there is also a way to become debt-free sooner without waiting for your Diwali bonus.

Can the salaried ever achieve financial freedom? Here are 3 easy steps to do so

Just setting aside money every month from your salary is not enough if much of it goes into bank deposits. Your investments need to beat inflation

Diwali Bonanza: BoB, HDFC Bank, ICICI Bank lead cheaper loan offers

Several Diwali loan offers are currently on. But read the fine print before you opt for one. Take loan only if you really need to borrow.

Bajaj Housing Finance lines up Diwali offer, slashes home loan interest to 8.2%

The Diwali Special Offer will remain valid from October 14, 2022 to November 30, 2022.

No material impact of rate hike on demand for home loans; home loan outstanding of banks doubles in last 5yrs

Even in the first five months of the current fiscal, home loan outstanding of banks has clocked double-digit growth, despite the Reserve Bank raising the key interest rate thrice during this period by a whopping 140 basis points (bps), which led to a hike in the home loan rate.

How much will RBI’s new 50-bps rate hike pinch you as a borrower?

The fresh hike in repo rate is likely to have a market-wide impact on borrowers as existing EMIs, as well as new loans, are set to become costlier. The rate hike has given momentum to rising FD interest rates.

Will moderation in housing sales play spoilsport this festive season?

Builders are trying to drive demand by offering discounts and offering to bear some of the interest burden.

MC Explains | How to manage your credit and borrowing in the era of loan apps?

The availability of credit with just a click of a button lures us to borrow more and more. Taking a loan is not bad, but it becomes a problem when you borrow for things that are not a necessity. Loan apps have made it easier to borrow, but also made it easier to get trapped in the vicious cycle of borrowing to repay. So here are a few points to keep in mind to borrow responsibly, so that loan apps don’t kill you.