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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, August 29
Sundaram BNP Paribas Home Finance offering the home loans at lower rates

In order to improve the home ownership in the rural areas, a private home financing Company Sundaram BNP Paribas Home Finance, has decided to offer the home loans on exclusive rates to women and Schedule caste and schedule tribe people. The company will be offering the home loans at the rate of 9.60%.

The rate of interest will be fixed for the period of 7 years and after that floating rate will be applicable. For...

Posted 12:01:27 PM Complete Story | Post Comment | Read Comments(0)

Thursday, August 28
Corporation bank inaugurated new branch in New Delhi

Yesterday, Corporation Bank opened new Corp Excel branch at Karol Bagh in New Delhi. Chairman and managing director S.R Bansal of the bank inaugurated the new branch with well equipped and furnished e-lobby.

These new Corp Excel branches are built completely in accordance with the needs and comfort of the customers. The main feature of this branch is the E-lobby that offers the 24X7 self-service automation kiosks. The bank is planning to set...

Posted 11:17:30 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, August 27
Reduction in home loan rates by SBI

Good news lined up for the home loan buyers – The State bank of India has decided to cut down he home loan rates. The bank has reduced the rates by 0.15%. For the women the rate has been revised to 10.10% irrespective of the amount.

SBI reported that bank will be charging 10.15% interest rate on the home loans irrespective of the amount. Earlier for the loan up to Rs 75 lakh the...

Posted 12:06:21 PM Complete Story | Post Comment | Read Comments(0)

Monday, August 25
Rise in home loans

A renowned home loan lending company HDCF has reported that an increase by 23% is seen in home loan in first quarter of this year. Another housing finance company Sundaram BNP Paribas Home Finance has seen the growth by 15% i.e. Rs 4,413 crore as against Rs 3,847 crore during the same period last year.

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The finance ministry has also announced special discounts for the home loans and increase in allocation under rural housing. The...

Posted 07:53:07 AM Complete Story | Post Comment | Read Comments(0)

Friday, August 22
Canara Utsav – Canara bank’s CSR responsibility

On a large scale banks are working for the social development of the society. The banks are taking up more activities as their corporate social responsibilities (CSR). Canara bank is one among them. As a part of the CSR canara bank has planned to support women entrepreneurs.

The bank has organized a three days Exhibition named – ‘ Canara Utsav’. In the products manufactured by women entrepreneurs will be displayed for the sale....

Posted 11:37:54 AM Complete Story | Post Comment | Read Comments(0)

Thursday, August 21
Affordable Home loans for underprivileged

It has been reported that home loans may went cheaper for the underprivileged section. Too curb with the problem of the home loan burden the govt. is introducing new interest subvention scheme. In this scheme govt. will be providing an interest subvention of 5% to the customers on the loan up to Rs 5 lakhs. Govt. is planning to make the housing cheaper and affordable to all. The final plan of the scheme is...

Posted 11:32:06 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, August 20
New Centralized Hub of UBI bank in Kolkata

To make the loan processing smooth and speedy the United Bank of India has initiated a new centralized hub. The bank has set up this new hub in the Kolkata city which will assist in making loan clearing process faster.

The bank report stated that the hub will be offer convenient way of managing the housing and mortgage loan. This new centre was inaugurated this independence day by bank’s Executive Directors, Sanjay Arya and...

Posted 11:36:42 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, August 19
Savings bank account campaign by Canara Bank

Canara Bank has recently rolled out a Savings Bank opening account Campaign. The bank organized this mega campaign across all its branches in the country. This Campaign has been started as predecessor of the Jan Dhan Yojna announced by Prime Minister Narendra Modi to be launched by the 28th of this month.

This campaign is the part of the banks the initiative to provide the banking accounts in all the households. The...

Posted 11:40:58 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, August 19
Social media – an effective way for banking

Majority of the people these days use social media sites. Social media is a good way to reach out the people. Banks have also found the social media – an interesting way to attract more number of customers. The banks reported that social media is better and cost effective way in comparison to the search engine marketing (SEM) or direct selling agents.

Although the SEM or direct selling agents method had been very successful...

Posted 11:27:12 AM Complete Story | Post Comment | Read Comments(0)

Thursday, August 14
UCO home loan Campaign

Recently UCO bank has rolled out an exclusive campaign for the home loan buyers. The bank has launched “UCO Home Loan campaign”, the customers can enjoy the facility of this campaign from August 11 till the end of the month.

This campaign will offer the buyers with an interest rate of 10.20 percent and further a full waiver on processing charges. An exciting opportunity offered UCO bank to customers to avail home loan. The...

Posted 11:40:10 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, August 12
New home loan product by Bajaj Finance

Bajaj Finance has brought an easy way for its customers that will help them in making payments. The bank has launched the new home loan product through which the customers can pay their instalments after three months of disbursements.

With the help of this scheme the company is trying to lure more customers and expand its services. This can help the Bajaj Finance to double up its home loan portfolio to Rs. 28,000 crore by...

Posted 11:35:36 AM Complete Story | Post Comment | Read Comments(0)

Thursday, August 7
Reduced home loan rates for new borrowers of HDFC bank

Good news for the customers planning to take Home loan from HDFC bank. HDFC bank has slashed down the home loan rates for the new borrowers irrespective of the loan amount. This offer is in effect from the 1st august,14.

This is the new offer of the bank named ‘Monsoon Bonanza’. The customers can grab this offer from 1st August till end of September, 2014. This will offer the new borrowers, salaried or...

Posted 11:21:27 AM Complete Story | Post Comment | Read Comments(1)

Wednesday, August 6
Home and car loan EMI are unlikely to drop down this year

The recent decision of the apex bank to keep the rates on hold- has faded the hopes of home and car loan EMIs to drop down. At present the majority of bank provides home loan at the rates in the range of 10.10% - 10.75% and car loans in the range of 10.9% to 13% for 7 years.

Repo rate the rate at which RBI lends to the bank has been kept unchanged at...

Posted 11:10:17 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, August 5
New branches of IDBI bank to be launched soon

Public sector bank IDBI bank has announced that the bank is planning to launch new 600 branches this year. The bank is in full plan to expand its banking network all over the country.

After adding up these 600 new branches the bank will have total of 2000 new branches. Further it has been reported that bank is having a detailed plan rolled out for augmenting the CASA. The bank is not having any...

Posted 10:48:53 AM Complete Story | Post Comment | Read Comments(0)

Friday, August 1
Canara Bank to take over the Amanath co-op bank

Yesterday the Karnataka high court has asked the Canara Bank to take over the amanath co-op bank (ACB). Since long this take over was to take place. Finally the apex has approved the Canara bank to take over the ACB bank.

Now the customers of ACB bank can access their accounts soon. Canara Bank will take over specified assets and liabilities of ACB. The doubtful assets will remain with Amanath Cooperative Society. The...

Posted 11:36:24 AM Complete Story | Post Comment | Read Comments(0)

Thursday, July 31
RBI likely to maintain the rates

HSBC stated in a report that the apex is likely to likely to maintain the rates till the next review meeting. The apex bank will keep the rates on pause. It is expected that the RBI may go for a rise in the rates by the last quarter of this fiscal year.

In the June 3 policy review, the RBI left key rates unchanged and unlocked about Rs. 40,000 crore of funds by reducing the...

Posted 11:40:25 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 30
Affordable housing loan for rural people

To provide the rural and low income people with the ease in buying home, a new home loan product is launched. Repco home finance has introduced a new home loan product which will assist the medium and low income group to buy home at the affordable prices.

this scheme comes under the purview of the rural housing fund of the National Housing Bank (NHB) at an interest rate of 9.60% per annum. The main motive...

Posted 11:28:49 AM Complete Story | Post Comment | Read Comments(0)

Monday, July 28
Exclusive car loan product for women by Federal bank

A leading private sector bank - federal bank has launched a special loan scheme for the women. The bank has rolled the loan product named ‘she Car’ Loan especially for the ladies.

This product will facilitate the women to access the car loan easily. It will be offering the women with car loan at the exclusive rates. The women will be provided with the concessional rate of 10.50% for the period of 3 years,...

Posted 11:47:40 AM Complete Story | Post Comment | Read Comments(0)

Thursday, July 24
Hiring in the upcoming bank – Bandhan

It has been reported that the new upcoming bank has invited applications for the people from banking and human resource fields. The bandhan has received an unexpected response from the people. Till Monday for the 15 posts the company received nearly 27,000 applications.

Major part of the candidates is currently working in well reputed public- and private-sector banks. State Bank of India had last year received nearly 1.7 million applications for 1,500 probationary-officer jobs. 70%...

Posted 11:39:10 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, July 22
Banking products for women

Banks these days are coming out with more of the banking products for the women. To make more women indulged in banking, banks are introducing special offers and schemes for the women. In addition to this last year a bank to primarily focus on banking needs of women was established.

It has been reported that many banks offer special saving accounts for the ladies that come with added benefits. Axis Bank offer Smart Privilege...

Posted 11:12:47 AM Complete Story | Post Comment | Read Comments(0)

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