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Home | Home Loans

Home Loans

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HDFC REDUCES HOME LOAN RATES: TACTICS TO CAPTURE THE MARKET SHARE

Showing competetive edge to State Bank of India major private housing finance company HDFC has tied up the queue to tap housing finance market. This is the major intiative taken up by any private financial institution to increase the market share in the home loan market by reducing rates by 50 basis points in the Rs 30-50 lakh segment.The development comes within a week of the country's biggest bank SBI cutting rates by 50-75 basis points for high value loans, and offering loans up to Rs 5 lakh at a fixed rate of 8% for five years.As per the revised rates, HDFC now offers loans between Rs 30-50 lakh at 9%. The rates will apply only to new customers as the lender has not revised its prime lending rate. HDFC had last cut rates in mid-July . Since then there has not been any reduction in policy rates by Reserve Bank of India.
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HOUSING FINANCE SCHEMES NEEDS EVALUATION FOR EASY REPAYMENTS AND TAX BENEFITS

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Owning a house or property in India is lifetime dream of every indian and may be first in the wish list. Owning property or house in the native places has been a matter of proud and self respect for Indian community. Jamindar has been the persons who owns the Jamin/land and engage labours for cultivation or development. Around ten years back Indian could plan the house or property after retirement only from the money of graduity/PPF etc. but in the present time the scenerio has changed and owning a house/flat has become dream of every young individual having a good salary package. ...
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BANKS SHOULD MAKE A POLICY TO FIGHT MENACE OF NON PERFORMING ASSETS:

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There has been seen many faces of changing banking sector in India and the aspects like interest rate deregulation, reduction in statutory reserve requirements, prudential norms for interest rates, asset classification, income recognition and provisioning, non performing assets needs to be addressed.Lending by the bank to any clients is processed on the basis of repayment capacity and viability of the projects. The supporting documentations has been always tough part for the borrowers to ensure banker that repayment capacity and will is there. There has been increment in the inastances the banks are not able to get their lending backs since the borrowers became defaulter and projects not sincerely pursued failed. The many of the loans become NPAs....
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SHORT TERM HOUSING LOAN TENURE MANAGEMENT

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The housing loan tenure is very crucial and decisive in relation to the amount of monthly repayment. Loan tenure has a direct relation to the quantum of monthly repayments a borrower has to make to a lender e.g. longer the tenure of the loan, the lesser is the EMI due to the lender. Normally the borrower should be very wise enough to decide the tenure of paying back depending on his monthly incoming, outgoing and other unforseen likely expenditure along with provision of emergency finances....
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State Bank of India extends special offer for home loans and auto loans:

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State Bank of India, the country’s largest public sector bank has been the fore runner to attract home loan and auto loan customers. Due to attractive discounts offered by the bank many existing others banks customers have got shifted to SBI.The SBI has decided to extend the special offer for auto and loans on housing till September. Under the scheme, which was earlier valid till the end of April, the bank had frozen the interest rate on new home loans at 8 per cent during the first year, while the cost of auto loans was fixed at 10 per cent during the first year. Subsequently, the interest rate was to be revised to the prevailing rate. Extending the scheme by five months, the bank also said today that top-up loans for home loan customers that are disbursed up to September 2009, would cost 8 per cent in the first year. SBI reiterated that the special rates were aimed at stimulating demand. When it had first announced the special rate schemes, its rivals – including HDFC, the largest mortgage player – had termed the move as a teaser offer and had said that it would only result in borrowers shifting their accounts....
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Home Loan Disbursement improves despite slow down in Real Estate Sector.

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This could be slightly feel good news that the amount of home loans banks disbursed in the first three quarters of the last financial year is higher than what they had in the corresponding period of the previous year. It seems that genuine buyers have come on the forefront to immediately grab the opportunity to get budget deals. The genuine buyers have been getting competitive deals and lucrative discounted deals in the slow down time....
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Home Loans, ICICI also proposes Cuts in the interests: Will this help at all????

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Will the rates cut in home loan by ICICI Bank will help at all to atract new buyers? If we study the real estate scenario the market is stagnant and enquiries for the every types of projects have droppes by 50-60%, specifically for luxury segments. Another problem is in the present conditions where jobs are uncertain banks are at the back foot to release the loans and delaying the approvals of the files evenrates are still fairly stiff compared to other major players, especially if you look in the Rs 30 lakh and above category. ...
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BANKERS HINT AT FURTHER LENDING RATE CUTS :Lower Home Loan Rates:The Govt. Move to nudge banks to clip rates.

Officials with State Bank of India, Punjab National Bank, Canara Bank, UCO Bank and Oriental Bank of Commerce have hinted at rate cuts, provided the cost of funds and inflation remained low. Finance secretary Arun Ramanathan too said lending rates may come down further as there has been a moderation in deposit rates. ...
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Finally SBI: Give Breath to Sluggish Real Estate Market (Declares loan rates at 8% for a year)

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Finally the public sector giant of India has decided to provide oxygen to the sluggish real estate market of India. Higher bank interest rates and passive attitudes of the private banks had thrown out of gear to home finance seekers and leading to setback for the developers...
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RBI push, inflation to bring home loan rates down

The key rates haven’t been changed in the recent credit policy. Yet, home loan interest rates will drop in the medium term....
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