The banks and other lenders come up with festival special offers that include lower processing fees and reduced interest rates for home loan borrowers, however, experts suggest that consumers should stay vigilant about hidden terms and conditions, considering their long-term financial goals.
Pre-EMI payments can cost less than normal EMI payments, which pay the principal and interest on the loan.
The lender is offering housing loans and car loans at an interest rate starting from 6.90 per cent and 7.30 per cent respectively, a release said.
Sitharaman, who had in her first budget in 2019 replaced leather briefcase that had been for decades used for carrying budget documents with a traditional red cloth 'bahi-khata', had earlier this month stated that the budget for the fiscal year beginning April will be "like never before".
India's largest bank has announced a 100% waiver in the processing fee for all customers applying for car, gold, and personal loan through YONO. SBI is offering the lowest interest rate starting from 7.5% to customers opting for the car loan. They will also get 100% on-road finance on select models.
SBI Home Loans: The country's largest lender State Bank of India (SBI) on Friday announced a 5 basis points reduction in its MCLR across tenors, effective February 10.
The bank's asset-liability management committee has reviewed the existing MCLRs and decided for a downward revision of MCLRs by 5 bps across different tenors, it said in a regulatory filing.
Are you HDFC customer? Then here is good news for you ahead of Diwali festival season. HDFC Bank on September 30 launched ‘Festive Treats’, a month-long extravaganza India's largest financial services dhamaka. Under which customers will get special offers on all banking products from loans to bank accounts,
Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Lok Sabha. On home loans, Sitharaman said the income tax exemption limit has been raised by Rs 1.5 lakh. This is applicable for loans upto Rs 45 lakhs.
The decision to reduce the repo rate was taken by the RBI's Monetary Policy Committee (MPC) at its second monetary policy review of the ongoing fiscal.
In it sixth bi-monthly monetary policy review announced Thursday, RBI had cut the repo rate by 25 basis points to 6.25 percent.
The RBI's statement also said final guidelines regarding board of management in Primary (Urban) Co-operative Banks (UCBs) will be issued during the month.
RBI Deputy Governor NS Vishwanathan told reporters after MPC meet that the RBI has been concerned about inadequacy of monetary transmission to the base rate and about large number of accounts still being under the base rate regime.
The scheme, valid until December 12, 2017, would be offered across 11 projects by Tata Housing in seven cities.
ICICI Bank has launched a cashback of 1 per cent annually on home loans. Defaulters can't avail this offer.
As banks move to reduce benchmark lending rates after spurt in deposits following demonetisation, housing, auto and corporate loans are all set to become cheaper.
SBI today cut benchmark interest rate across various maturities by 0.9 per cent, a move expected to be shortly followed by other banks.
Mumbai: Mortgage major HDFC today offered home loans to women borrowers at 9.85 per cent, to make its loan pricing at par with that of rivals State Bank of India and ICICI Bank.The product, christened
State-owned Corporation Bank on Friday reduced interest rates on home, auto and consumer durables loans by up to 1.75 per cent to cash in on the festival season demand.The bank cut lending rate on home
NEW DELHI: State-owned Canara Bank today launched two new housing schemes for Non-Resident Indians (NRIs) and High Networth Individuals (HNIs), in a bid to cash in on the festive fervour. The demand from NRIs for
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