Rajkot-based Aakash Varadarajan instantly accepted an offer from his lender to buy insurance for his home loan. He had read about these covers and readily agreed, as he was getting it without anyMore
Now, switch lenders for free
Changing your lender for a better rate has just got easy. The Reserve Bank of India, in Tuesday's annual monetary policy review, has asked banks not to levy any pre-payment penalty on foreclosure ofMore
Union Bank slashes home loan rates
Public sector Union Bank of India (UBI) on Thursday announced a decline in its interest rate on loans for home and small and medium enterprises (SME) from April. "Our net interest margin is around 3.3More
Building your own house - Points to ponder
Building your own independent home is a dream that many of us want to do. The thrill of owning your own piece of land, building a structure as per your requirements, and helping design theMore
Planning to buy a house? Wait for further correction
Though property prices have declined, renting still makes sense in heated markets For Nagpur-based Deepak Puranik, scouting for a house in Mumbai was the next step to being offered a job in the city.More
Home loan growth to moderate to 15%: Icra study
With a dip in the demand for fresh loans due to sharp rise in interest rates and increased prepayments, growth in the mortgage (home loan) market would be 15 per cent in 2011-12 against 18 per cent inMore
Home loans' pre-payment penalty scrapped
The directive assumes significance, given banks' reluctance to implement advisory on the same. The Reserve Bank of India (RBI) has asked the banks to waive the pre-payment charges in floating rateMore
SBI hikes home loan tenure to 30 years
Rising rates prompt extension by 10 more years; others may follow suit. There is some good news for home loan borrowers, with the State Bank of India increasing loan tenures by 10 more years. OtherMore
Bankers fear new borrowers will prefer housing finance firms
The National Housings Bank's (NHB) latest circular waiving penalty on full home loan prepayment may give housing finance companies (HFCs) an edge over banks this festival season. Bankers said theMore
Don't get locked in fixed-rate loans for long tenures
These should be considered for a year as interest rates may start coming down after that. Mumbai-resident Tripti Nigam has zeroed in on HDFC's three-year fixed-cum-floating-rate housing loan. Like anyMore