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Home loan in India: Facts and Reviews
An expert on home loans in India, Joseph Samson passionately follows every single development in this personal finance segment in his blog on rupeetimes.com. A fitness freak, Joseph likes to spread the message accross effectively in simple words.
By Joseph Samson

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Friday, November 28
Payments will now provide more facilities to the people in unbanked areas

In order to promote the banking and make the people in rural and backward areas use bank for their savings the Apex bank of the country has introduced new rules for the payments banks. Yesterday RBI announced that payment banks will be allowed to accept the deposits of Rs 1,00,000 from the customers in the unbanked areas.

The payments banks in deed are established to support the Financial inclusion and help the migrant labourers. The...

Posted 07:31:49 AM Complete Story | Post Comment | Read Comments(0)

Thursday, November 27
PNB allowed customers to have free transactions without any cap

Last day the Punjab National Bank unveiled its plan to continue to allow the customers have free transactions from ATMs. The bank will allow the customers to make free transactions irrespective of the number.

However the apex bank has asked the banks to allow 5 free ATM transactions to the customers, but PNB has decided not to go with it and allow its customers free transactions without any cap. PNB account holders can enjoy...

Posted 11:48:55 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, November 25
AREIDA in association with SBI organized a home loan Fair

It has been reported that The Assam Real Estate & Infrastructure Development Association (AREIDA) yesterday launched a Home loan fair in association with the highly networked bank of India- State Bank of India. The AREIDA along with the SBI organized the home loan fair in Guwahati under the banner “Areida Realty Summit-2014” at Hotel Brahmaputra Ashok.

The fair was inaugurated by the Ajanta Neog, Minister of PWD along with the Chief General Manager, State...

Posted 11:23:28 AM Complete Story | Post Comment | Read Comments(0)

Monday, November 24
Bank of Baroda expanding its banking network

With the intent to expand its banking network, the Bank of Baroda has plans of setting of 400 new branches across the country. With the addition of these branches the bank wants to have a total of 5400 branches. In the south the bank is having 271 branches and bank wants to add 65 more new branches to the southern region by the next fiscal year.

In addition to this bank will also add...

Posted 11:38:41 AM Complete Story | Post Comment | Read Comments(0)

Friday, November 21
Kotak Mahindra Bank acquired ING vysya bank

Last day Kotak Mahindra Bank acquired ING vysya bank. Kotak Mahindra is a well developing bank of the nation with a huge network of 641 branches. After acquiring the ING bank, Kotak Mahindra bank will have add 573 more branches of ING Vysya Bank.

ING vysya bank also had a great banking presence in south with a mixture of rural as well urban branches. Kotak Mahindra has a major presence in metro cities;...

Posted 11:27:33 AM Complete Story | Post Comment | Read Comments(0)

Thursday, November 20
Canara Bank completed its 109 years of banking

On Wednesday a state owned bank – Canara Bank launched 109 branches of the bank across the country. On the occasion of the founders of the bank the bank launched 109 new branches and equal number of ATMs. The bank has completed 109 years of its successful banking.

The founder’s day ceremony was celebrated in Bangalore, on the occasion the executive director of the bank stated that bank wanted to expand its service and...

Posted 11:33:50 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, November 18
New Branch inaugurated by Dhanlaxmi Bank at Thiruvananthapuram

An old private sector bank – Dhanlaxmi Bank inaugurated a new branch at Thiruvananthapuram. Bank has opened the new branch at Sabarimala at the festive season. This branch is operational only for a period of two months and will be working to offer the Point of Sales facility. The facility through which the customers will be able make the donations through credit / debit card.

As in previous years, coupons for getting ‘appam’,...

Posted 11:24:37 AM Complete Story | Post Comment | Read Comments(0)

Friday, November 14
Govt. interview candidates for CMD post for highly reputed banks of the country

It has been reported that govt. will interview new candidates for the post of Chairman and managing directors of seven banks. Currently there are seven vacant positions of CMDs and one more will get vacant in the month of December.

Today the government will interview 19 candidates for the posts of chairman and managing director in the public sector banks. The list of banks without CMDs include Punjab National bank, Bank of Baroda,...

Posted 11:25:41 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, November 11
Manappuram to venture into Microfinance, Home and vehicle loans

The country’s leading gold lending company Manappuram has planned to venture in to the three areas Microfinance, Home loans and vehicle loans. By the early next year company has plan to venture the three areas.

It has been reported that company will infuse 100 cr of capital and will expand the presence of the company in central and western parts. Earlier his year, Manappuram Finance had acquired Milestone Home Finance. Five years ago Manappuram...

Posted 11:15:29 AM Complete Story | Post Comment | Read Comments(0)

Monday, November 10
Syndicate bank to set up new banking branches

In order to expand the banking network the syndicate bank has planned to launch 300 new branches. In addition to this bank will also 27 mid corporate branches by this financial year. A mid corporate branch will be set up at Guntur.

On Saturday bank has started a new branch at Visakhapatnam regional office. The bank is about to set up 5 new branches in the region. Currently there are 47 branches of the...

Posted 12:04:11 PM Complete Story | Post Comment | Read Comments(0)

Thursday, November 6
Cheques processing should be done more carefully – RBI

The apex bank- RBI has asked the banks to be more alert on cheques of the larger amounts. Keeping the increasing cheque scams in the mind the RBI has asked the bank to be more cautious while clearing the cheques of heavy amounts.

The banks have been asked to ensure that the private information is not misused either by the bank or by the vendor side. Banks should send SMS to drawer when cheques are...

Posted 11:43:42 AM Complete Story | Post Comment | Read Comments(0)

Thursday, November 6
Banks to finance the Vehicle loan segment again

According to the reports in the recent few years the banks reduced their lending towards the Commercial vehicle segment. It was expected that the lending in this sector might lead to decline in the credit quality. But now with the growing economy and improving conditions the demand for the these is loans is increasing so the banks have decided to finance in the commercial vehicle segment.

Managing director of the IndusInd bank told...

Posted 11:36:05 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, November 4
Indian Bank offering low rates on home loan and car loan

Indian bank is offering various offers and low interest rates on home and car loans to its customers. In addition to this the bank has also waived off the processing fees. The offers are available up to 31st January, 2015.

The bank also organized a 1 day camp for home and vehicle loans. The bank will offer home loans for purchase of new home, renovation etc. On the Mela day bank has...

Posted 11:37:00 AM Complete Story | Post Comment | Read Comments(0)

Thursday, October 30
Yes bank has planned to enter into home loan market

Young generation bank – yes bank has planned to enter housing loan market. Bank assumes that home loan will prove to be a strategic product that will help the bank to enhance the retail banking. Reports have shown that the home finance market in India stood at Rs 9-lakh crore at the end of March.

Looking towards the home loan market and the bank has planned to enter in to home loan...

Posted 11:31:44 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 28
Banks signed MOU with state govt. for sale of sand in Andhra Pradesh

The state govt. in Hyderabad has signed MOU with 5 major banks of the country. The five banks namely State bank of India, Andhra bank, State Bank of Hyderabad, syndicate bank and Indian bank will open a separate account for sand mining.

It has been reported that the rates of the sand will be fixed and consumer will get the amount deposited as per the rate fixed and will get the receipt. Using...

Posted 11:21:41 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 21
SBI branches resumed its working in Andhra Pradesh

Yesterday, 209 branches of the State Bank of India resumed back to its normal operations. Bank has reported that 190 of total 502 ATMs are functional in cyclone-hit Visakhapatnam, Vizianagaram and Srikakulam districts. Bank has also established mobile ATM facilities for the people over there.

During the calamities the life without cash becomes worse. The people were unable to carry out any banking transaction over there. Now the citizens will...

Posted 11:33:58 AM Complete Story | Post Comment | Read Comments(0)

Monday, October 20
Karur vysya bank won IDRBT Banking Technology Excellence award

Along with the Federal Bank,  Karur Vysya bank has also received IDRBT award. Recently in the ceremony organized by the IDRBT, Karur Vysya bank was presented with the award for Best Bank Award for Business Intelligence Initiatives among small banks.

Managing director and CEO of the bank presented with the IDRBT Banking Technology Excellence award is for 2013-14 by the RBI governor. IDBRT awards and appraises the bank for their well performance. Every year...

Posted 11:31:47 AM Complete Story | Post Comment | Read Comments(0)

Monday, October 20
NHB made home loan borrowing easier

National Housing bank has planned to offer a special diwali gift to the new home loan customers. It is being informed that retail home borrowers can now get the loan from housing finance companies by paying lower amounts as their initial contribution.

National Housing bank has asked the Housing finance companies to to provide housing loans above Rs 20 lakh with a loan-to-value (LTV) ratio of up to 90 per cent if such loans are...

Posted 11:29:18 AM Complete Story | Post Comment | Read Comments(0)

Friday, October 17
Rise in net profit of the Federal Bank

Kerala based – federal Bank has gained a profit of 6%. The bank has reported that the net profit of the bank has increased from Rs 225.81 crore last year to Rs 240.30 crore. Net interest income of the bank has increased by 10.40% to Rs 605.80 crore.

Further the Gross non-performing assets (NPAs) of the bank were 2.10%, down from 3.39% in the same quarter of the previous year. Net advances of...

Posted 11:14:36 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 14
Retail Utsav of Andhra Bank received an overwhelming response

Recently Andhra Bank had organized a retail utsav in Hyderabad. It has been reported that bank has received whooping response from the customer. The two day mega property show of the bank turned out to be a success. Within a period of two days bank has sanctioned more than 100 loans.

The show offered the customers with various facilities. The customers got the chance to interact with the bankers. There was no processing...

Posted 11:17:03 AM Complete Story | Post Comment | Read Comments(0)

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