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Home loans are long-term loans that continue over a number of years, hence implications of even a small change here can be quite big, especially when it is related to interest rates.
Arjun had taken a housing loan of Rs 10 lakh for 15 years at an interest rate of 7.5 per cent a couple of [...]

The RBI’s  final guidelines on base rate will ensure that existing home loan borrowers get the full benefit of any reduction in interest rates. While it is too complex to understand how the base rate will be determined, the essence seems to be that the banks cannot discriminate between old borrowers and new ones. This will [...]

One of the positive aspects of a housing loan is it offers several income tax benefits to the person taking a home loan. These benefits cover the housing loan interest as well as capital component of the home loan repaid through equated monthly instalments ( Home loan EMIs) over the tenure. But many a time it [...]

We home loan borrowers are always looking for ways to save costs in terms of home loan EMIs. Many of us opt for home loan prepayment of loan for the same reason. It saves us quite a large amount, given we follow all the conditions properly. But in many cases, this is accompanied by an [...]

Saving bank account holders will see a rise in interest income from April 1 onwards. This is not because interest rates have changed. It still stands at an abysmally low rate of 3.5% p.a., but what has changed is the way banks will now calculate interest income on the savings account. RBI has notified banks [...]