You can expect home loan rates to mover up by at least one per cent in the coming months. It is always advisable to pre-pay your Home Loan, if you have extra cash available with you. According to source, the home loan rate is evaluated using reducing balance method and the interest rate is always [...]
Home loan
Articles and Resources about Home loan
Understand Your Home Loan
Wednesday, December 1st, 2010Banks generally quote an ‘annualized’ interest rate, but remember that interest rates can be deceptive unless you figure out how they are defined. When you take a loan from a bank or a housing finance company, bank will offer you only 80 to 90 per cent of the value of the property i.e., you have [...]
How To Avoid Rejection of Home Loan application
Tuesday, November 16th, 2010Earlier getting a home a loan was easier as the lending companies or banks were competing with each other to attract maximum borrowers through attractive schemes and offering teaser home loan. But now Reserve Bank of India (RBI) announced a series of monetary measures that tightened the norms for home loans. The RBI also sought [...]
Refinancing Home Loan in India
Wednesday, September 15th, 2010Refinance has become a common way of repaying the earlier debts and creating new ones. Refinancing in simple terms means replacing your existing loan, with a new one, under fresh terms and conditions. The new loan or refinance taken for the payment of earlier loan is always at lower interest rates so that the person [...]
Home Loan- Get Benefit By Shifting To Base Rate
Friday, August 6th, 2010Base Rate is one of the reforms on banking system by RBI to reduce the lending risk for banks. Before setting the base rate system, banks used Prime Lending Rate (PLR) to set their lending rates. RBI come up with the new Base Rate system where banks can lend the loans based on the new [...]
Base Rate Will Not Affect Home Loan
Friday, July 23rd, 2010Base Rate for loans is effective from July 1, 2010. Base Rate is more objective reference number than the benchmark prime lending rate (BPLR). The impact of Base Rate for individual customer could be an increase or decrease of 25 basis points compared to the current rate of interest they are paying. However, existing customers [...]
Home Loan Amortization For Periodic Payments
Thursday, July 8th, 2010Amortization is the process of clearing out your home loan by making periodic payments. Amortized loans are different from other loans due to the way the amount and the structure of each payment is determined. The word “Amortization” or amortisation comes from Middle English “amortisen”. This term means to deaden or kill, as in to [...]
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