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 A fitness freak, Joseph likes to spread the message accross effectively in simple words.
By Joseph Samson

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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)

Monday, July 21
Job opportunity in Bank of Maharashtra

Bank of Maharashtra is recruiting candidates for the post of Company Secretary. The bank has invited the interested candidates to apply before 28th of this month.

In order to apply the candidate needs to be an Associate Membership of Institute of Company Secretaries of India (ACS) with Computer Literacy. Further he/she must hold a graduation degree with minimum 55% marks and should not be above the age of 45 years.

Interested and eligible candidates...

Posted 11:26:28 AM Complete Story | Post Comment | Read Comments(0)

Friday, July 18
Home loan EMIs expected to drop down by 8-10%

Good news lined up for the home loan customers. On Wednesday it was informed that in order to ease norms for banks to raise long term funds for financing affordable housing projects the Apex bank has decided to bring down the Home loan EMI by 8-10%

This measure of the RBI will help to boost the infrastructure development and make the housing affordable. RBI informed that lending for affordable housing means loans eligible under priority...

Posted 11:04:20 AM Complete Story | Post Comment | Read Comments(0)

Thursday, July 17
Dropdown in home loans and raise in education loan

According to the reports and data it has been noticed that the demand of the home loans is dropping down and on the other hand the demand of the education loan is rising up.

Last year due to the glooming economy and a slowdown in the real estate market the home loans demands went down. In comparison to the last year a drop down of over 7,000 beneficiaries has been recorded I Home loans. Experts...

Posted 11:23:59 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 16
New Loan product unveiled by BMB bank

The women oriented bank of the country – Bhartiya Mahila Bank has come up with a new loan product. The bank has launched BMB rent a new product to benefit the owners of properties who have rented out their premises.

This loan product is basically designed for the individuals and firms who have rented out their property to the big renowned companies and organizations. Through this product the bank will be assisting them...

Posted 11:22:15 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, July 15
NBFC not levy pre payments on floating rate term loans : RBI

Non- banking financial companies (NBFC) have been instructed by RBI not to charge pre-payment penalties on floating rate term loans, including housing loans. 2 months earlier RBI has also asked the Banks for the same, now RBI has instructed the NBFC to follow the same.

RBI stated that in order to bring the consistency with regard to prepayment of various loans by borrowers of banks and NBFCs, the RBI has asked the NBFC not charge...

Posted 11:07:28 AM Complete Story | Post Comment | Read Comments(0)

Monday, July 14
Canara Bank expanding its services in villages

Last Day Public Sector bank Canara Bank expanded its Gramodaya Scheme in Delhi. It has been stated that bank has introduced this scheme, for the overall development of villages or slums. The bank has brought more slums under the project.

Bank acquired three new slum areas including one in the Vasant Kunj. Recently Bank had also organized a financial literacy camp for the women in slums that will assist them in developing and enhancing...

Posted 11:34:50 AM Complete Story | Post Comment | Read Comments(0)

Thursday, July 10
Gold loan scheme of Allahabad bank

Public sector bank Allahabad Bank has decided to launch a gold loan scheme. The bank will be providing loan against the purchase of gold as collateral. This scheme will be launched all over the country.

At present the bank is providing this scheme in 5 states of South India – Andhra Pradesh, Kerala, Karnataka, Kolkata and Tamil Nadu. Recently the company has started this scheme across 25 branches in Kolkata. Soon the bank is...

Posted 11:28:15 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 9
First Ad campaign of Federal Bank

For the first time State owned bank – Federal bank has launched its brand centric campaign. The theme of the campaign is long-lasting partnerships. Already three series of television commercials are released. Keeping the interest of the people in mind an appealing TV commercial is made that portrays an endearing bonding of an old yet ‘young-at-heart’ couple. The Ad campaign basically shows the lovable relation that the bank shares with their customers and it...

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

Tuesday, July 8
New branch of corporation bank in New Delhi

Last day corporation bank inaugurated a new branch in Dwarka Sector 17 New Delhi. Chairman and managing director of the Bank Mr. S.R bansal inaugurated the branch. The branch is opened at 14, Savitri Arcade at DDA community centre in the city. The new branch is named as corp excel branch. Assistant General Manager of the bank stated that at present the capital and the National Capital Region including Delhi, Gurgaon, Faridabad, Ghaziabad and...

Posted 11:34:53 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 2
ICICI bank opening its branch in Australia, SA and Mauritius

Public sector bank – ICICI bank is opening its branches overseas rapidly. Recently it was reported that the ICICI bank has opened a branch in china, now its Australia, SA and Mauritius. ICICI is the second largest leading bank of the country, now the bank is trying to achieve greater extent overseas as well.

Bank has received the approval to establish the branches, bank will also be upgrading its existing representative office in China....

Posted 11:02:52 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, July 1
IndusInd Bank’s initiative to assist the Farmers

These days banks are focusing on agriculture sector and are trying to provide financial assistance to them. Following the same yesterday IndusInd Bank launched its Tractor and farm Equipment (TFE) Finance division which will serve to agriculture financing.

To provide the easy payment options time to time and make the documentation easier for the rural people, Bank has came up with several schemes. Through this measure bank will assist the farmers in gaining new...

Posted 11:05:38 AM Complete Story | Post Comment | Read Comments(0)

Friday, June 27
Banks in Kerala launched debt swap scheme

In order to free up the victims of the private money lenders, Banks in Kerala are launching a debt swap scheme named ‘ Wrina Mukthi’ . Due to the increase in suicides and related incidents by the victims of the private money lenders, banks have decided to come up with this measure and help them.

It has been reported that the private money lenders were charging high interest rates from the people, making it...

Posted 11:19:38 AM Complete Story | Post Comment | Read Comments(0)

Thursday, June 26
Banks will now provide 100% car financing

Banks have reported that till now they will were providing 90% of the car finance, but now they are planning to stretch it up to 95%. The direct sales agent of a private sector bank informed that on certain models of cars bank even offer 100% finance of the cars.

For the customers with the income more than Rs 1 lakh there is offer of 100% finance on Maruti Swift Desire, Wagon R, Maruti Alto,...

Posted 11:21:37 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, June 25
BOB’s new eco friendly headquarter

Bank of Baroda is establishing its new headquarter, last day the chairman and managing director of the bank Mr. S.S Mundra laid the foundation of the new headquarter. The new headquarter Baroda Bhawan will be at gulistan bunglow premises.

The new nine-storey headquarters of BoB will come up on 1,24,000 square feet land. It has been reported that new headquarter will be build in accordance with the environment. The new building will be...

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

Monday, June 23
UBI launched mobile payment services

State owned bank United bank of India has launched its merchant payment services on mobile phones. Using the immediate payment service (IMPS) provided by the National Payment Corporation of India UBI will offer this service. With the help of this customers can enjoy the mobile payment services all around the clock. Executive Director of the bank Mr. Sanjay Arya initiated this mobile payment services on mobile phones at the head office of the bank.


Posted 11:20:35 AM Complete Story | Post Comment | Read Comments(0)

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