Doing away with pre-payment penalty to burden customers: RBI
Eliminating pre-payment penalty on loans might encourage banks to increase interest rates on loans to pass on their load on to the customers, according to RBI Deputy Governor Usha Thorat.
Category Archives: Loans
DLF sells 1,200 housing units costing Rs 500 cr
Realty major DLF has sold out 1,200 autonomous floors worth Rs 500 crore in the initial stage of its integrated township at Panchkula (Haryana) within a week of commencing the project. DLF has sold over 1,200 autonomous floors, covering 2 million sq ft of built up area from the commencing of the project on February… Read More »
Maruti and Hyundai set to increase prices
Leading car makers in the country hiked the central excise duty to 10% in response to the government’s decision to increase the excise duty. This hike is likely to push up the car prices by up to Rs. 25,000. The country’s biggest car manufacturer, MarutiSuzuki India (MSI), said its car price will rise by 2%.… Read More »
RBI grants full licence to Experian
The competition in this arena is expected to further strengthen the infrastructure capabilities of CIBIL, which currently has the first mover advantage and a huge database to its credit, not to mention a huge list of banks and financial institutions as its members. On the other hand the new entrants come with the rich experience… Read More »
Investing in real estate? Here’s some know how
Real estate attracts capital gains tax. The advantage is that we can use indexation benefits to our advantage. The indexation index is announced every year by the Income tax department. This is a number which links the inflation to property values. By using indexation, we can estimate the true appreciation of the real estate after… Read More »
Should you prepay your home loan?
Saving on the net interest is the significant advantage of prepaying the home loan, other than the fact that you will retain the complete ownership of the house earlier than planned. The longer the loan tenure, the more the interest repaid, hence its best to repay your home loan in the shortest loan tenure possible,… Read More »
Prepayment penalty to continue
Banks are worried about the competition commission’s interference on homeloan prepayment penalty subject as they are worried that it would force their costs, hike risk and also increase the lending rates.
Holiday homes help you earn rentals
Today you can buy a holiday home in a scenic setting and earn rentals and high returns. This is because most of the holiday homes are situated in areas that have high aspirational value and thus appropriate resale value and owning such a home in hills or on the beach is considered as the matter… Read More »
Buying a house? Here is a fee checklist!
Different banks are coming up with different schemes to home loan customers. You have different options to choose from and should use this option to find out about the best deals available for you. However, when you look at a home loan, it is important that you take into consideration not only the interest rates… Read More »
What reverse mortgage does for the senior citizen
Recent reports seem to indicate that a very small percentage of senior citizens only seem to have taken advantage of the facility since its inception. This could be perhaps a better awareness had not been created about the product. The product is still evolving and may take on new dimensions depending on how the banks… Read More »