Home loans News

Earlier this week, the State Bank of India (SBI) reduced its lending rate by 50 basis points following the Reserve Bank's policy rate cut.  

RBI Repo Rate: Reserve Bank Governor Sanjay Malhotra announced a major proposal to liberalise the RBI’s co-lending guidelines for banks and NBFCs to expand their ambit beyond priority sector lending, to which they are currently restricted. 

Jio Financial Limited To Launch Home Loans: Mukesh Ambani's Jio Finance Ltd, the NBFC subsidiary of Jio Financial Services, announced that it is in the final stages of launching home loans, which are currently available in Beta mode. This update was shared during the company's first annual general meeting since its stock market debut in August 2023. Adding further, the company plans to introduce other financial products, including loans against property and securities. Meanwhile, Jio Insurance Broking Limited (JIBL) has partnered with 31 leading private and public sector insurance companies to offer insurance products through the JioFinance app.   

RBI’s decision to maintain repo rates gets approval from housing industry. Borrowers, however, face a dilemma between fixed and floating-rate home loans. Floating rates can lead to potential future repo rate cuts.

RBI hikes Repo rate by 25 bps to 6.50% on Wednesday. Realty sector expects increase in pressure in affordable and mid-housing segment.

A rising interest rate scenario presents a dilemma for housing finance companies (HFC)s. Mortgage lenders normally increase the EMIs while keeping tenures constant or do it vice-versa. Lenders usually extend the tenure first to keep the borrower's monthly debt burden in check.

Banks provide home loans to customers. It is wise to do thorough research before taking a home loan, You should know forced closing rate of home loan before.

The RBI cut interest rates from 5.15 per cent when the pandemic hit to as low as 4 per cent, which then boosted real estate assets. Declining interest rates were a key reason for the massive housing demand surge in the past two years. It is widely expected the RBI may hike rates by 50 basis points in the monetary policy review meeting during September 28-30.

Realty experts feel that the demand for houses will not witness a massive impact. Interest rates have a profound effect on the value of residential properties. This rate hike has a moderate impact on residential property sales.

Reserve Bank of India had increased the repo rate by 140 bps so far in this financial year RBI's current lending rate stands at 5.4 per cent Indiabulls Housing Finance has also increased its reference rate w.e.f. Sept 15

The Repo Linked Loan Rate (RLLR) of PNB has been raised from 6.90 per cent to 7.40 per cent. Baroda Repo Linked Lending Rate [BRLLR] has been hiked to 7.40 per cent. Central Bank of India raised its rate by 50 basis points.

HDFC’s home loan rates now start from 7.55%. PNB has increased the lending rates on home loans by 15 basis points or 0.15%. State Bank of India increased the home loan lending rates by 40 basis points or 0.40% to 7.05%.

From a hike in home loan EMIs to costlier third party motor insurances, a slew of changes coming into effect from today, June 1, could burn a hole in the common man's pockets.

The funds will be raised in the period of next 12 months through private placement mode. Her appointment is subject to approval of the shareholders at the ensuing annual general meeting of the bank. Renu Karnad is the Managing Director of Housing Development Finance Corporation Ltd since 2010.

Repo rate is the interest rate at which the RBI lends funds to commercial banks. A hike in the repo rate will pressurise lenders to increase interest rates on home loans. Retail inflation hiked to 6.95 per cent on yearly basis in March 2022.

In Delhi-NCR, housing sales more than doubled to 18,835 units from 8,790 units, while the MMR saw a 43 per cent rise in sales to 29,130 units from 20,350 units. Housing sales in Bengaluru grew 55 per cent to 13,450 units from 8,670 units. Pune rose 33 per cent to 14,020 units from 10,550 units.

Bank of India is now offering home loans starting at just a 6.50 per cent interest rate. The latest move is aimed at making housing affordable for many. At 6.5%, the Bank of India is now offering home loans at one of the lowest interest rates in the industry.

Bank of Baroda is offering home loans starting at 6.50%. Bank of Baroda had recently cut its interest rates on home loans to 6.75%. It is offering of the cheapest interest rates.

State Bank Of India offers low-interest home loans that are processed for free. There are no prepayment penalties on these SBI house loans. SBI offers home loans with terms ranging from three to thirty years.

With this offer, customers can get an HDFC Home Loan starting at 6.70 percent from September 20 onwards. This is a close-ended scheme and will be valid till October 31, 2021, the lender said. Besides HDFC Bank, other banks including State Bank of India (SBI), Bank of Baroda, Kotak Mahindra, and PNB had cut down home loan rates.