The Reserve Bank of India (RBI) has told banks not to include stamp duty and registration fees in home loans. It means buyers will now have to make arrangement for money for these two heads over and above the 20 per cent of the asset value which they are already expected to shell out. In [...]

The Reserve Bank of India (RBI) is planning to categorize home finance to the weaker sections under priority lending. A committee, headed by Mr. M. V. Nair, CMD, Union Bank of India, has been set up by the RBI to review various issues pertaining to priority sector lending. As stated by Mr. H. R. Khan, [...]

The slowdown in the home loan segment is continued in the quarter ended December 2011, however, lending institutions are expecting to see revival in the demand for housing loans in the current quarter and in the quarter ending June 2012. As stated by Mr. V.K Sharma, Director & Chief Executive, LIC Housing Finance (LICHF), “The [...]

Vijaya Bank has offered 50 per cent concession in the processing fee on home loans, along with other benefits, during its ‘Home Utsav 2011′ event. Earlier, the bank had also organized similar exhibitions in southern cities, including Bangalore and Chennai.

The Bank of India (BOI) has joined the club of banks that has waived pre-payment charges on housing loans. The BOI has abolished prepayment charges on home loans for both fixed and floating rate loans across all tenures, for both current and new borrowers, with an immediate effect. Earlier this week, the Central Bank of [...]

At a time when rate of interest on housing loans are hovering around 11 per cent-14 per cent, BPTP, the realty firm, has joined hands with HDFC to finance new purchasing of houses at 5.99 per cent for a limited period till December 31, 2011. However, this scheme will offer nearly 40 per cent reductions [...]

HSBC Bank has launched a dual-rate home loan scheme whereby the borrowers will be offered fixed-rate loan for the period between one to five years and after that it will eventually change into floating home loan.
There will be two options available to the borrowers. In the first option, the borrowers will not be required to [...]

In a big respite to the millions of borrowers, the Central Bank of India, has decided to scrap the home loan pre-payment charges.
“In deference to Reserve Bank of India’s (RBI) suggestions, the bank has decided to waive penalty on pre-payment of all floating rate housing loans irrespective of the source of funds of the borrowers,” [...]

Global banking major HSBC has introduced a fixed rate product for home loans and loans against property. For the home loans, the new rates will only be available to the customers for one to five-year period and the loan against property for five years.
The scheme that has been introduced by the bank comes with the [...]

In a major respite to the large number of home loan borrowers, India’s largest lender, State Bank of India (SBI), has announced that it will not levy any kind of the pre-payment charges effective from November 21 on its home loans whether it is fixed or floating.
“The main motive behind this decision is to provide [...]