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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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Tuesday, April 8
RBI issuing new Rs 10 notes

It has been reported that reserve bank of India will be soon issuing new Rs 10 notes. The new notes will be having the signature of new RBI Mr. rajan. The notes will be in the Mahatma Gandhi Series-2005 with governor’s signature on them.

Further the note will be having rupee symbol sign on the front and back side of the note with inset letter A in both numbering panels. The year of...

Posted 08:54:46 AM Complete Story | Post Comment | Read Comments(0)

Monday, April 7
No change in home loan rates: SBI

It has been reported by the officers of the bank that State bank of India will not change the rates of the home loan. In the monetary policy review reserve bank of India reduced the borrowing limits for the banks from the overnight facility. The lowering cost mat lead to increase in the funds of the banks.

Bank will maintain the same rates. Cost of funds may rise, but the home loan rates will not change...

Posted 10:31:35 AM Complete Story | Post Comment | Read Comments(0)

Friday, April 4
Home loan and car loan EMIs likely to remain same

In the monetary policy review held on 1st April, 2014, the apex bank announced to maintain same rates. RBI has not increased the rates this time. Therefore it has been reported that the Equated monthly Installments for car and home loan are unlikely to change.

RBI has maintained the repo rate at 8% and the cash reserve ratio at 4%. Since there is no change in the interest rates therefore the EMI are also likely...

Posted 11:16:48 AM Complete Story | Post Comment | Read Comments(0)

Thursday, April 3
Women customer of SBI can avail special home Loan rates for a longer period

Good news is lined up for the women borrowers of State Bank of India. Recently SBI has announced that the bank is extending the period for the offer of special home loan rates to women customers of the bank.

In December last year, bank launched this scheme in which bank decided to provide home loans to the women at lower rates. SBI reported that the date will be extended beyond 31st March, 14. ...

Posted 11:20:09 AM Complete Story | Post Comment | Read Comments(0)

Thursday, April 3
AXIS bank rolled out new home loan product

One of the leading banks of the country AXIS bank has launched a new home loan product named ‘Asha Home Loan’. This is a 30 year home loan product for the first time, home buyers in the lower income segment based on the family income.

On its 20th anniversary, bank has launched this home loan product for the low income groups. The product will offer home loan to the customers having income 8,000 -...

Posted 11:15:50 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, April 2
Fall in the demand of home loans

According to the reports it has been noticed that the glooming economy and slowdown in real estate has led to the shortfall in demand of the home loans.

A forex consultant stated that the higher interest charged by the banks is the major reason in the downfall of the demand of the home loans. Majority of the banks offer interest rates in the range of 10.50 -11%, which is quite higher. The higher rates prevent...

Posted 10:13:26 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, April 2
ICICI lombard offering special travel plan

One of the leading Insurance companies ICICI lombard yesterday announced that the company will be providing a special offer to the customers travelling to schegen countries. The company will offer special travel insurance to customers up to the age of 85 years from 1st April, 2014.

Under this offer the customers can go for the cashless claim settlement in case of a medical emergency during the international trip. Chief of the company...

Posted 10:11:32 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, April 1
Axis bank expanding its network in unbanked areas

Third largest bank of the country Axis bank launched 250 new branches in the areas devoid of banking services. As per the regulatory requirement, the launch of these branches makes the bank eligible to roll out 750 more new branches in coming next two years.

Mr. Rajiv Anand retail banking manager of the bank stated that, RBI stated that bank can front-load its 25 per cent branches in unbanked areas and carry forward the...

Posted 11:22:55 AM Complete Story | Post Comment | Read Comments(0)

Monday, March 31
SBT bank first one to open a housing finance branch

Recently State bank of Travancore established an innovative branch in Ernakulam. This is a housing finance oriented branch. For the first time in the banking industry a bank has opened this type of branch. This branch will be dealing only regarding the housing loans, modification or top- up plans for the housing.

In order to provide complete attention towards the home loan aspirants the bank has initiated this branch that will only look after...

Posted 11:01:16 AM Complete Story | Post Comment | Read Comments(0)

Friday, March 28
Rates likely to remain same in this monetary policy

It has been reported that Reserve Bank of India will keep the rates same in the annual monetary policy to be held on 1st April. 2014. HSBC country head Naina Lal Kidwai stated that though the inflation seems to be relived, but still they expect the RBI to maintain the status quo.

The Final decision will be announced in the review meet next week. Federal Bank managing director Shyam...

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

Wednesday, March 26
Women oriented branch of Syndicate bank in Jaipur

It has been noticed that banks are focusing more towards the women now days. Few months bank government launched a women oriented bank I the country and now many banks are establishing separate women special branches.

Last month Indian  overseas Bank initiated its first women branch in Ludhiana. Following the trend and in order to facilitate help to the women Syndicate bank has also launched a women oriented branch in Jaipur. It has been...

Posted 11:16:44 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, March 26
BMB bank launched second new branch in Agartala within a week

With a high pace Bhartiya Mahila Bank is launching its new states all over the country. It has been noticed that every day the women oriented bank is coming up with a new banking branch. Few days back, Bank launched three new branches in the north eastern states of the country. Bank launched its first branch in agartala last week, and now within a week time Bank has launched its second branch in agartala.

...

Posted 11:06:13 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, March 25
Banks to enhance banking services through ATMs

In order to assure the smooth banking functioning through the ATMs, the IBA is looking forward to put some suggestions to the RBI. The banks will be asked to increase the guards at the ATM and no ATM machine will be refilled with the cash after 8 in the evening.

The banks are also asked to increase the ATM network across the country by establishing ATMs at all the branches. Finance minister Mr. P....

Posted 11:03:42 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, March 19
Corporation bank signed MOU with AMW motors

Last day in Manglore, In order to provide better financing services to customers for buying AMW range of commercial vehicles, Corporation Bank has tied up with AMW motors. It has been reported that bank has signed up a memorandum of understanding with AMW motors through it will avail and assist its desired customers in purchasing commercial vehicles easily through its branches.M

The initiative of the bank will make the purchase of AMW commercial vehicles...

Posted 10:58:27 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, March 18
Bharati AXA insurance company opening 29 new branches

It has been reported that one of the largest insurance company, Bharti AXA genral Insurance company of the country has decided to expand its ntework across the tier-II and tier-III cities. In order to deepen its penetration in motor segment and expand network in smaller cities the company is opening 29 new branches.

The CEO and MD of the company stated that they are comin up with many new innovative plans. As a part...

Posted 10:52:18 AM Complete Story | Post Comment | Read Comments(1)

Friday, March 14
Males can also open account in Bhartiya Mahila Bank

Recently the Women bank of the country Bhartiya Mahila Bank has been in news for expanding its network speedily across the country. Bank generally focuses on women, but the male members can also open the account and make transactions through the bank. It has been noticed that people are thinking that the bank is for women only.

On the opening ceremony of the 15th branch of the bank in Jaipur the CMD of the...

Posted 11:13:22 AM Complete Story | Post Comment | Read Comments(0)

Thursday, March 13
New equity scheme rolled out by IDBI MF

According to a company release IDBI MF has initiated a new diversified equity scheme for its customers. The IDBI has launched ‘IDBI Diversified Equity Fund’. This scheme is open ended diversified equity scheme. The customers can avail this exclusive offer from 10th march to 24th march 2014.

The company further stated that this very attractive and useful offer the customers. Stating the offers of the scheme the company reported that the offer will be...

Posted 10:56:32 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, March 12
Canara bank planning to finance auto rickshaw drivers in Karnataka

It has been reported that state owned bank Canara bank has signed up a memorandum with the three wheels united India. In order to provide better financing services to the individual auto rickshaw drivers the bank will be working with three wheels united India.

The bank and the three wheels united India will be working under the project ‘Nammo Auto’. The project is aimed to help the auto rickshaw drivers of the Karnataka. The...

Posted 10:53:23 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, March 11
Home loans at rate of 9.35%

It has been reported that under the National Housing Bank’s Refinance Scheme of Rural Housing Fund, DHFL housing finance company has revised its rates. The DHFL will be offering home loan at the fixed rate of 9.35% for the tenure of 7 years and up to a amount of Rs15 lakhs. Further for the tenure of 8 to 15 years the company will be offering the floating rate of 11.50%.

Managing director of the...

Posted 10:59:02 AM Complete Story | Post Comment | Read Comments(0)

Friday, March 7
New white label unveiled in kochi

In order to provide more financial assistance to the people below poverty line, Muthoot Finance launched a new white label ATM in kochi. While inaugurating the ATM Mr. Nikhil Kumar stated that it is the part of their social responsibility to assist the poor people with the financial help.

White label ATMs work similar as the other banking ATMs providing the facility of cash withdrawal and balance enquiry. Muthoot is further planning to...

Posted 11:09:05 AM Complete Story | Post Comment | Read Comments(0)

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