MUMBAI: HDFC, the country’s largest housing finance company, has increased home loan rates by up to 20 basis points (100bps = 1 percentage point). It said the revision follows an increase in the cost of funds from last year. Most of the bank’s customers would be affected only marginally. Interest rates on loans up to Rs 30 lakh have been …
Prepaying a home loan may be the best investment option in current yields scenario
Major banks and housing finance companies have raised their lending rates. Whenever home loan rates are hiked, borrowers want to know whether they should prepay their loans to save on interest. In the past, there was no clear answer because there were several investment opportunities that could yield better returns than the interest paid on the home loan. Not any …
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 …