A 19 October, 2011 circular of the National Housing Bank says no penalty or fee for prepayment of home loans can be charged, provided the ...
10:16 PM, May 17, 2013
Tax expert Subhash Lakhotia joined IBNLive readers for an interaction on the impact of Budget 2013 on taxes and investments. ...
06:10 PM, Feb 28, 2013
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. ...
05:08 PM, Feb 28, 2013
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 the period April 1, 2013 to March 31, 2014 will be entitled to an additional deduction of interest of up to Rs...
01:55 PM, Feb 28, 2013
The RBI reduced repo rate by a widely expected 25 basis points, taking comfort from cooling inflation as it made the first cut in nine months to support an economy headed for its slowest growth in a decade. ...
11:47 AM, Jan 29, 2013
The Reserve Bank of India on Tuesday cut both repo rate and Cash Reserve Ratio (CRR). While the repo rate was cut by 25 basis points to 7.75 per cent, the CRR was slashed by 25 bps to 4 per cent. ...
11:24 AM, Jan 29, 2013
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. "With this reduction, the bank is quoting the lowest processing fee on both home and auto loans to our esteemed...
02:23 PM, Oct 17, 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 the new rates will be applicable only for two months. In this festival scheme, the bank is offering a home...
06:19 PM, Oct 11, 2012
New Delhi: State-owned 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 effective from Monday. The decision to lower rate comes within days of Finance Minister P Chidambaram asking PSU banks to...
06:43 PM, Sep 03, 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 the same. Borrowers, who are already burdened with the high rate of inflation, will now find some ease in interest...
11:36 AM, Aug 28, 2012
New Delhi: State-owned 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 by 25 to 50 basis on houses between Rs 30-35 lakh. These will be effective from September 1," Central Bank...
04:23 AM, Aug 25, 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 up to 0.60 per cent, was earlier targeting a 25 per cent growth in its home loan book. Such...
07:30 PM, Aug 02, 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 10.25 per cent from existing 10.50 per cent (after 0.25 per cent concession over the card rate), a senior bank...
09:14 PM, Aug 01, 2012
Mumbai: The Reserve Bank of India o Friday directed state and central co-operative banks to stop levying penalty on pre-payment of home loans on floating interest rates with immediate effect. "...it has been decided that banks will not be permitted to charge foreclosure charges /pre-payment penalties on home loans on the floating interest rate basis, with immediate effect," RBI said in a notification. Earlier this month, RBI had also asked...
04:39 AM, Jun 16, 2012
Mumbai: The Reserve Bank of India (RBI) on Tuesday announced removal of foreclosure charges/prepayment penalty on home loans with floating interest rates. In a notification, the central bank said that it had been observed that home loan borrowers across the board resented foreclosure charges levied by banks on prepayment of home loans. "This is especially since banks were found to be hesitant in passing on the benefits of lower interest...
01:00 AM, Jun 06, 2012
HDFC Chairman Deepak Parekh has lashed out at the government for it's policy flip flops. ...
08:39 AM, Apr 18, 2012
New Delhi: After three years and 13 consecutive rate hikes, the RBI has finally reversed the gear. In a surprise move, the RBI cut the repo rate - at which it lends to banks - by half a per cent. It is a strong signal to banks to cut interest rates on loans. Deepak Parekh said, "RBI has bitten the bullet." The banks admit the signal can't be ignored -...
08:59 PM, Apr 17, 2012
Mumbai: The Reserve Bank of India (RBI) on Tuesday cut the repo rate by 50 basis points from 8.5 per cent to 8.0 per cent but did not touch the cash reserve ratio, which remains at 4.75 per cent. The cut in the repo rate is an indication that banks could reduce the interest rates on home and car loans. Following is the full text of RBI's Monetary Policy for...
11:35 AM, Apr 17, 2012
CNBC TV18's Banking Editor Latha Venkatesh explains how the decision's taken at the RBI's credit policy meet on Friday will impact consumers. ...
08:10 AM, Dec 16, 2011
Kiran Bedi's travel agent quits her trust. Loans to get costlier as RBI hikes rates again. ...
11:18 PM, Oct 25, 2011
