Some housing finance companies (HFCs) focusing on the affordable housing segment have shown an above-average increase in delinquencies with gross NPA at 4-5 percent, said a CRISIL report.
It plans to expand to 500 more locations in tier II, III and IV cities like Ambala, Bikaner and Tuticorin and grow the business to Rs 2 lakh crore by FY20
Those with a score of 759 and less, the rate of interest for loans of Rs 30 lakh and above will come at MCLR plus 0.10 basis points for a year. One basis points is 100th of a percentage point.
The profit grew on the back of lower tax costs and stake sale in two of its subsidiaries.
Affordability of home buyers has improved from 3.8 times to 2.7 times the annual salary of the buyer.
Growth likely to pick up further on the back of affordable housing segment
This comes at a time when most banks are still hesitant on meeting the RBI’s suggestion last month to link home loans to external benchmark rates.
The Modi government had launched the housing for all by 2022 in June 2015 and the disbursement is from that period.
Christened 'Pratham' loans, the bank has enabled over 51,000 first-time home-buyers from the economically weaker section and low-income groups in the last four years.
Competitive pressures and larger exposure to the self-employed are the prime reasons for the build-up of stress in the segment.
Top banks are rushing to grab the retail share in the festive season by reducing interest rates on loans and with various offers on home loans.
IndusInd Bank on Monday said it has entered into an exclusivity agreement with Bharat Financial to evaluate possibility of a strategic deal between them.
Customers can avail a new home loan or transfer their existing home loan from September 1 – November 30.
These six banks, three private and three public, offer the lowest interest rates when buying a house.
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