HOME LOAN

  • Home loan rates in single digits. How does this affect you? Join the discussion April 16, 2015

    Giving a boost to affordable housing, the Reserve Bank of India in March eased the norms for home loans for up to Rs 10 lakh by allowing banks to include stamp duty and registration charges to the cost of a unit. The RBI also cut the repo rate by 25...
  • ICICI announces reduction of home loan rates by 25 basis points April 14, 2015

    Mumbai: ICICI Bank has announced reduction of home loan rates by 25 basis points for all existing and new customers. With this announcement, women as well as applicants from weaker sections will get home loans at 9.85%. The rate will be 9.90% for all others. The reduced rate will be...
  • SBI cuts home loan interest rate by up to 0.25% April 12, 2015

    New Delhi: Matching its competitor HDFC Ltd, State Bank of India on Sunday announced a cut in home loan rate by up to 0.25 per cent, providing relief to new borrowers. The cut in interest rate on home loans, with effect from Monday, is higher than the reduction of 0.15...
  • HDFC cuts home loan rate by 0.2 per cent; EMIs to come down April 10, 2015

    New Delhi: Country's largest mortgage firm HDFC on Friday cut home loan rate by 0.2 per cent to 9.9 per cent for new as well as existing borrowers. It has been decided to reduce home loan rate by 20 basis points, with effect from April 13, HDFC Ltd said in...
  • RBI eases norms for home loans for up to Rs 10 lakh March 6, 2015

    New Delhi: Giving a boost to affordable housing, the RBI on Thursday eased the norms for home loans for up to Rs 10 lakh by allowing banks to include stamp duty and registration charges to the cost of a unit. These charges form around 15 per cent of the cost of...
  • RBI cuts repo rate by 25 basis points to 7.5%, home loans may be cheaper March 4, 2015

    Mumbai: In a surprise move, the Reserve Bank of India on Wednesday cut repo rate by 25 basis points from 7.75 per cent to 7.5 per cent with immediate effect. This is the second rate cut in the past two months. The cut in repo rate is likely to make home...
  • Union Budget 2015: Government may hike home loan rebate to Rs 3.5 lakh February 24, 2015

    Mumbai: The upcoming Budget could bring some major relief for home buyers. Given the government's big promises of providing housing for all by 2022, sources say Budget 2015 could see a hike in the rebate offered on home loans, reports CNBC-TV18's Nayantara Rai. According to sources, the government may hike...
  • India @ 9 with Zakka Jacob February 24, 2015

    Catch the day's top stories with Zakka Jacob on India @ 9. ...
  • RBI eases rules for low-cost home loans November 27, 2014

    Mumbai: The Reserve Bank of India (RBI) has eased norms to fund low-cost housing by permitting banks to extend loans against long-term infrastructure bonds. The RBI however barred lenders from providing loans against long-term infrastructure bonds issued by other banks. "Further, such loans should be subject to a ceiling, say, 10 lakh...
  • Budget 2014: Tax exemption limit raised to Rs 2.5 lakh from Rs 2 lakh July 10, 2014

    New Delhi: In a minor relief to the individual tax payers, the Narendra Modi government in its maiden Union Budget raised the income tax exemption slab from Rs 2 lakh to Rs 2.5 lakh. "I propose not to make any changes in the tax rate. However, with the view to provide...
  • Axe the tax: Home buyers seek exemption on loans July 1, 2014

    Kolkata: With a boom in the real estate sector, property prices have shot up dramatically in the recent years. 54yearold Sandeep Chatterjee who invested not just his life savings but also took a home loan at a hefty interest rate to build a dream home for his family of five,...
  • SBI slashes home loan rates by up to 0.4 per cent December 19, 2013

    Country's largest bank SBI on Thursday cut home loan rates by up to 0.4 per cent for new borrowers, a day after RBI kept its key policy rates on hold. Women borrowers would get an additional 0.05 per cent concession on card rates. SBI home loans will now be available under...
  • JPMorgan's $5 billion settlement doesn't end its troubles October 26, 2013

    Washington: The $5.1 billion that JPMorgan Chase has agreed to pay hardly ends its legal troubles over mortgage securities it sold. It's merely a down payment. JPMorgan still faces heavy financial burdens. The bank has set aside $23 billion to cover legal costs and it may need it all. In a statement...
  • SBI increases its minimum rate of lending to 9.80 per cent, makes loans costlier September 19, 2013

    The country's largest lender, State Bank of India, on Thursday said it increased its base rate, or the minimum rate of lending, to 9.80 per cent, a day ahead of the RBI's policy review. "State Bank of India has revised the base rate by 0.10 per cent from 9.70 per cent...
  • RBI, Finance Ministry to consider cheaper auto, home loans scheme September 18, 2013

    With little headroom to cut interest rates, the Finance Ministry and the RBI are considering a plan to give cheaper funds to banks to lend to the auto and housing sectors as the festive season approaches. "The Finance Ministry is evaluating a scheme launched by the Bank of England wherein it...
  • Link disbursal of home loans to stages of construction: RBI to banks September 4, 2013

    The Reserve Bank on Tuesday asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of "innovative" housing financing schemes. "In view of the higher risks associated with such lump-sum disbursal of sanctioned housing loans and customer suitability...
  • RBI tightens home loans norm, asks banks to link disbursal to construction September 3, 2013

    Mumbai: The Reserve Bank of India on Tuesday asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of "innovative" housing financing schemes. "In view of the higher risks associated with such lump-sum disbursal of sanctioned housing loans...
  • 'First time buyers should take home loan after April 1' February 28, 2013

    Tax expert Subhash Lakhotia joined IBNLive readers for an interaction on the impact of Budget 2013 on taxes and investments. Q. My CTC is 12, is there any benefit/loss to me as per new Budget? Asked by: namish A. You will have only one benefit namely of...
  • Budget 2013: Luxury homes to cost more February 28, 2013

    New Delhi: Finance Minister P Chidambaram on Thursday announced a Rs 2,000 crore urban housing fund, while making luxury homes costlier by cutting abatement on service tax on a flat with a floor area of over 2,000 sq ft, or prices exceeding Rs 1 crore. The Budget for 2013-14 also...
  • 1st time home buyers to get additional tax break of Rs 1 lakh February 28, 2013

    New Delhi: Finance Minister P Chidambaram on Thursday raised tax deduction limit by Rs 1 lakh for the first time home buyers to promote the housing sector. "...a person taking a loan for his first home from a bank or a housing finance corporation up to Rs 25 lakh during...
  • RBI credit policy highlights January 29, 2013

    Mumbai: Following are the highlights of the RBI's third quarter monetary policy review: * Shortterm lending rate or repo rate reduced by 0.25 per cent to 7.75 per cent, first time in nine months. * Reverse repo rate stands adjusted to 6.75 per cent. * Reduces cash reserve ratio (CRR) by 0.25 per...
  • RBI cuts repo rate, CRR by 25 bps January 29, 2013

    New Delhi: The Reserve Bank of India on Tuesday lowered its key policy rate as expected for the first time in nine months to support an economy set for its slowest growth in a decade, but signalled there was less room for aggressive cuts in future due to concerns over...
  • SBI halves processing fee on home, auto loans October 17, 2012

    New Delhi: In festive mood, country's largest lender, the State Bank of India (SBI), has halved the processing fee on home and automobile loans. The reduced processing fee is available till the end of 2012. This comes days after the SBI slashed home and auto loans by 50 basis points....
  • ICICI Bank cuts home, auto loans rates October 11, 2012

    Mumbai: Country's largest private sector lender ICICI Bank on Thursday announced a cut in their home loan and automobile loan rates. While home loan rates have been cut by one percentage point, the rates on auto loan have been slashed by 0.75 percentage point. But the bad news is that...
  • PNB lowers home, car loans interest rates September 3, 2012

    New Delhi: Stateowned Punjab National Bank (PNB) on Monday slashed interest rates on home loan and car loans by up to 0.5 per cent. In the housing loan segment, rate has been reduced by 0.25 per cent while interest rate on car loans has been slashed by 0.5 per cent...
  • Bank home loans set to become cheaper August 28, 2012

    Mumbai: Even though the Reserve Bank of India has not yet declared a fresh rate cut, interest rates on retail loans including home, auto, education and personal loans are likely to moderate in the coming days. Some banks have already slashed their interest rates while others are planning to do...
  • Central Bank to cut interest rate on home loans August 25, 2012

    New Delhi: Stateowned Central Bank of India on Friday said it will cut interest rates on housing and other loans by up to 0.5 per cent from September 1. "We have decided to reduce the rate of interest on the car loans. We have decided (to cut)... housing loan rate...
  • SBI trims home loan sales target by 10 per cent August 2, 2012

    Mumbai: Country's largest lender and market leader in home loans segment, State Bank of India, on Thursday said sluggish growth in property market prompted it to cut its annual home loan growth target by up to 10 per centage points. The bank, which cut its home loan rates on Wednesday by...
  • SBI cuts interest rate on home, car loans August 1, 2012

    New Delhi: State Bank of India on Wednesday slashed lending rates on car and home loans by up to 0.5 per cent, a day after one per cent cut in SLR by the Reserve Bank. SBI has reduced interest rate on home loans of up to Rs 30 lakh to...
  • Stop prepayment penalty on home loans: RBI to banks June 16, 2012

    Mumbai: The Reserve Bank of India o Friday directed state and central cooperative banks to stop levying penalty on prepayment of home loans on floating interest rates with immediate effect. "...it has been decided that banks will not be permitted to charge foreclosure charges /prepayment penalties on home loans on...