Home Loan Mumbai – Home Loan Interest Rates 2017

Leading Banks and NBFCs have reduced home loan interest rate for loan upto Rs. 30 lakh to assist Central Government’s mission of affordable housing. Major lending institutions such as SBI, HDFC, ICICI, Axis & India Bulls have reduced rate of interest on Home Loans. Presently, lenders are emphasizing to encourage salaried women borrowers to buy their dream home. Currently, the …

EMI Calculator – Home Loan in Mumbai

Calculating EMI with Mathematical Formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1] P stands for Loan Amount R stands for Interest rate per month [(if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)] N stands for total number of Monthly Instalments OR You can simply click here to calculate EMI on …

Homeownership Dream

Applying for a home loan in the city of Mumbai is both a stressful time in life and an exciting time. The idea of owning a home for the first time, buying a larger home, or just moving to a new place can bring on an array of blissful emotions. Whether you are buying for yourself or your family, there …

Consider These Tips Before Taking a Home Loan

For most of us, taking a home loan becomes necessary at least once in a lifetime. More often than not, the saved up money that you have struggled to earmark for buying your dream house, is never enough. Once you have set your eye on a suitable house, you go about doing your research for home loans by browsing online, …

TYPES OF LOANS IN INDIA

The very word loan invites unwelcome thoughts about cash flow crunch, undesirable thoughts about repayment, recovery officers pounding at your door and numerous other depressing thoughts. True that, a person takes a loan when in need of money. But the very idea of taking a loan need not be stressful and uncalled for. It is a fairly simple way of …

Know About The Advantages Of Taking A Home Loan

If you consider the huge amount involved and the long tenure to repay it back, you may feel that home loan is a liability and stick to your rented house. But if you know about the advantages of buying your home by taking a loan, you will surely consider of availing one. You may argue that that the purchase of …

Tackling The High Home Loan Rates In India

There is a constant speculation in the market on whether the interest rates will climb further, remain stagnant or decrease over a period. But, the harsh reality is that the recent rise in home loan rates has driven the budget of almost 3 million households, out of gear. The EMI’s have risen significantly and with a monthly salary unable to …

Will there be a long pause before the next rate cut?

At the third bi-monthly monetary policy review on August 9, Reserve Bank Governor Raghuram Rajan did what was largely expected of him. He let the policy rates remain unchanged. The primary reason attributing to such a stance was the retail inflation which was still more than 5 percent, much above the comfort zone. Target inflation still away The government announced …

SBI starts certification for officers who sanction loans

To face the challenge of high non-performing assets (NPAs), country’s largest lender State Bank of India (SBI) has started working on a multi-pronged strategy, including a certification programme for loan sanctioning officials. “In our bid to face the challenge of high-level NPAs the industry is currently faced with, we are working on a multi-pronged strategy,” bank’s chairman Arundhati Bhattacharya told …

Other income, retail loan growth boost private banks’ profit

Strong other income and robust growth in the retail (individual) book portfolio helped private sector banks report good earnings growth in the April-June quarter. Most banks met Street estimates and concerns on asset quality also stabilised, as the spikes in non-performing assets (NPAs) were along expected lines. Most lenders saw a rise in other income, which includes fees and commissions. …