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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Tuesday, January 27
Karnataka Bank tied up with TVS motors to Assist Auto rickshaw buyers

State owned bank – Karnataka Bank last week tied up with TVS motors. It has been reported that in order to provide the financial assistance to the passengers to intend to buy auto rickshaw the bank has signed MOU with the TVS motors.

The bank will assist the customer with the best financial deals for customers to buy TVS auto Rickshaw. The bank will be offering hassle free process with easy terms to the customers...

Posted 09:10:13 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 22
RBI extended the Directions issued to Amanath Co-operative Bank for a period of six months

It has been reported that the apex bank of the country – RBI has extended the period to review for the state oriented bank – Amarnath co-operative bank. The bank has extended the directives for a period of six months from January 5, 2015. The bank has been restricted from granting or renewing any loans and advances, make any investment, incur any liability including borrowing of funds and acceptance of fresh deposits without prior approval...

Posted 12:16:34 PM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 21
Home loan EMIs expected to drop down

After the cut down in the repo rate by the apex bank, the home loan EMIs are expected to fall down. Many banks have reduced their base rate as well. The reduction of 0.25% will reduce the EMI on Rs 50 lakh home loan with tenure of 20 years i.e. approximately will reduce EMI by Rs 831 per month.

The reduction will bring a slight relief to the customers. Further it is expected that...

Posted 11:44:26 AM Complete Story | Post Comment | Read Comments(0)

Monday, January 19
Corporation Bank received MSME banking excellence award 2014

City based bank - Corporation Bank has been awarded with the MSME banking excellence award. For its excellent performance the bank has received MSME Banking Excellence Awards - 2014 instituted by Chamber of Indian Micro Small and Medium Enterprises. Under this category bank has received two awards MSME bank award for other bank (winner)' and 'Best Bank award (runner up).

On the basis of the performance of the bank, priority sector lending and...

Posted 11:38:31 AM Complete Story | Post Comment | Read Comments(1)

Friday, January 16
Home loan rates set to fall, after reduction in repo rate

The reduction of rate of RBI has brought the cheer to the customers, since the home loans rates are set to fall. RBI has reduced the repo rate buy 0.25%. The RBI has reduced the rate by 0.25%. The RBI has made this decision prior to the monetary policy to be declared in February, 2015.

After two years RBI has dropped the key rates. Other banks are expected to follow the trend and bring their...

Posted 11:28:17 AM Complete Story | Post Comment | Read Comments(1)

Thursday, January 15
4 new Corp Excel E-lobbies set up Corporation Bank

Expanding its banking network recently the Corporation Bank has launched new Corp Excel e-lobbies. The bank has opened new 4 Corp Excel e-lobbies in Pune. The bank has plans to add more e-lobbies.

Yesterday the bank has established the e-lobbies at at Nigdi Dapodi, Vimannagar and Pimple Saudagar. The lobbies were inaugurated by the chairman of the bank Mr. SR Bansal. Further the bank will add the new lobbies at Pune Camp and Aundh...

Posted 11:23:53 AM Complete Story | Post Comment | Read Comments(1)

Monday, January 12
SBI rolled out SBI quick facility

The leading lending bank of the country - State Bank of India has rolled out a new facility for its customers. In order to make the banking easy and quick the bank has launched ‘SBI quick’ Facility. Through this facility the bank will avail the customers to acess the mini statements and account balance from their mobile phones.

The customers can register themselves for the facility by sending an SMS (REGaccount number) to ‘9223488888’...

Posted 11:15:03 AM Complete Story | Post Comment | Read Comments(2)

Friday, January 9
BMB bank opened a new branch in Uttrakhand

Last day the women oriented bank of the country – Bhartiya Mahila Bank has inaugurated new branch in Uttrakhand. After setting up successful branches in urban areas now the bank is looking forward to establish it branches in rural areas. First the bank is setting up branches in plain areas of the uttrakhand and later its will expand to remote areas of the state.

The bank has opened a new branch at Haridwar, prior...

Posted 11:53:50 AM Complete Story | Post Comment | Read Comments(1)

Thursday, January 8
Drop down in the housing loan accounts

Recent reports have shown that there has been a significant drop down in the number of home loan accounts. In the year 2012-13 the home loan accounts with the commercial banks has dropped down by 2.7%. It was reported that the high real estate prices is one major factor of the drop down.

In 2012, the total number of housing loan accounts with all scheduled commercial banks was 47.78 lakh. In 2013, it...

Posted 11:16:22 AM Complete Story | Post Comment | Read Comments(1)

Wednesday, January 7
Daimler India to offer easy finance solution to its customers with the help of Karur Vysya Bank

A wholly owned subsidiary of Germany's Daimler AG - Daimler India Commercial Vehicles has planned to work with Karur Vysya Bank. The company in association with the bank will offer commercial vehicle loans to its customers easily.

The company stated that this tie up will help the company to strengthen its commercial vehicles presence across Andhra Pradesh, Telangana and Tamil Nadu by offering attractive financial support. Through this tie up the bank...

Posted 11:13:26 AM Complete Story | Post Comment | Read Comments(1)

Tuesday, January 6
New branch of HDFC bank in Andhra Pradesh

HDFC bank achieved a milestone of establishing 100th Branch in Andhra Pradesh. The bank is expanding its network all over the country at a rapid pace. 15 years back the bank established its first branch in Vishakhapatnam. The branch will offer the gamut range of services including net banking and mobile banking.

The bank has established its 100th branch in the rural area of the state i.e. Enikepadu in the Gannavaram Constituency of...

Posted 11:55:53 AM Complete Story | Post Comment | Read Comments(1)

Monday, January 5
15 new branches of SBI in Odhisa

At the beginning of this New Year the highly networked bank of the country- State Bank Of India established 15 new branches in Odhisa. Expanding its network the bank has opened 15 new branches in the state, at present the bank is having 820 branches in the State.

SBI is having maximum number of branches in the state. Mr. UN Behera development commissioner of the state inaugurated the branches at the SBI Local...

Posted 10:56:05 AM Complete Story | Post Comment | Read Comments(1)

Friday, January 2
Home loan offer by Union Bank of India

On the first day of new year Union bank of India announced that bank has liberalised its home loan scheme. Under this bank is having an additional scheme for the customers. The bank stated that those who will wish to shift its home loan to the bank for its furtjer construction and renovation, the bank will offer an additional loan to them.

In addition to this the customers who have constructed/purchased a dwelling unit with a...

Posted 10:06:45 AM Complete Story | Post Comment | Read Comments(1)

Friday, January 2
A report on Banks

The recent reports stated that despite of trobles many banks have sucessfully emerged to be best in thier banking services. The annual BT-KPMG Best Banks study discovered the HDFC bank bank to be the winner for the second time. further the young generation bank -Yes bank has acquired the fifth position in the large banks category, slowly moving state run banks UCO bank d J&K Bank have emerged winners in two of the 13 award...

Posted 09:57:32 AM Complete Story | Post Comment | Read Comments(1)

Monday, December 29
500th Paragati branch of PNB at Paharganj

One of the oldest banks of the country –Punjab National Bank has launched its 500th Pragati Branch. With the intent to maximize the banking experience of its customers the bank is launching these Pragati branches across the major centers of the bank across the country.

It is ensured that at these branches satisfactory services are delivered to the customers. The minimum level of service is guaranteed across all these branches. The executive director...

Posted 11:36:35 AM Complete Story | Post Comment | Read Comments(1)

Tuesday, December 23
HDFC Mortgage lender company launched a new Fixed home loan scheme

The private Mortgage Lender Company HDFC has rolled out a new fixed rate home loan product. The company has launched this product for a very limited period and that too on the occasion of the New Year. With the help of this product the company desires to lure more customers.

Apart from launching of this scheme the company has also reduced it rates by 0.15% on its various products. Earlier this month, Axis Bank had...

Posted 11:23:38 AM Complete Story | Post Comment | Read Comments(0)

Monday, December 15
Andhra Bank reduced rates on Home , car and gold loan

The customers of Andhra Bank will now get to enjoy the home loan, car loan and gold loan on the cheaper rates. The Andhra Bank has reduced its rates on home, car loan and loan against gold ornaments.

It has been informed that home loans for up to Rs 10 lakh have been reduced by 1%, earlier the rate was 11.25% and now it has been reduced to 10.25%. For the loan above...

Posted 11:37:52 AM Complete Story | Post Comment | Read Comments(0)

Monday, December 15
Synd transport week organized by Syndicate bank

Recently Syndicate bank celebrated the ‘Synd Tranport week’. As the part of this synd transport week the bank distributed Rs 1.10 crores loans for 25 cars under the ‘ Synd Transport scheme’.

This was organized at the various branches of the bank from 8th December to 13th December 2014. With the perspective to increase the car loan portfolio of the bank the bank has handed over the keys of the car to the...

Posted 11:34:11 AM Complete Story | Post Comment | Read Comments(1)

Friday, December 12
BOM bank has lowered its lending rates

State owned bank – Bank of Maharashtra has slashed down its rates by 15bps. The bank has reduced its lending rate by 0.15% making home loans and car loans cheaper. The base rate of the bank has dropped down to 10.25%.

Earlier the base rate of the bank was 10.40% p.a. The new rates will be effective from 15th December 12, 2014. Bank of Maharashtra is the first one to lower its...

Posted 11:51:43 AM Complete Story | Post Comment | Read Comments(1)

Thursday, December 11
Second new branch of BMB bank in Tamil Nadu

The women oriented bank of the country- Bhartiya Mahila Bank is moving towards the progress. The bank is making its efforts to expand its banking business. Recently the bank has launched its second branch in Tamil Nadu. The bank has established its new branch in Coimbatore.

While inaugurating the new branch the CMD of the bank stated that this is the 36th branch of the bank. Within a period of one year the...

Posted 12:05:29 PM Complete Story | Post Comment | Read Comments(0)

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