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Kotak Mahindra Bank hikes home loan rates by 0.05 per cent

The private sector lender will now be offering home loans starting from 6.55 per cent, as against 6.50 per cent earlier, as per an official statement.
The new rates will be applicable till December 10, a statement by Kotak Mahindra Bank said.(Mint)
The new rates will be applicable till December 10, a statement by Kotak Mahindra Bank said.(Mint)
Published on Nov 08, 2021 05:09 PM IST
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PTI | | Posted by Sharangee Dutta, Hindustan Times, New Delhi

HDFC cuts home loan rates for festival season, joins SBI, PNB and Bank of Baroda

Several real estate developers and consultants said these concessional interest rates on home loans will lead to a strong consumer demand in India's residential property market.
Several banks have announced benefits on home loans during the festival season.(Bloomberg Photo)
Several banks have announced benefits on home loans during the festival season.(Bloomberg Photo)
Published on Sep 21, 2021 11:04 AM IST
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By | Written by Amit Chaturvedi, Hindustan Times, New Delhi

SBI's 'Monsoon Dhamaka' offer: Bank waives off processing fee on home loans

The offer is valid for a month, till August 31.
State Bank of India (Image used for representative purpose only)
State Bank of India (Image used for representative purpose only)
Published on Jul 31, 2021 07:20 PM IST
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By | Written by Karan Manral, New Delhi

Banks double down on home loan segment

The aggregate home loan portfolio of banks grew 9.1% in the year till March 26 to 14.59 lakh crore. While this was lower than the 15.4% growth seen a year ago, it marks an improvement after the plunge in the first few months of the pandemic.
The aggregate home loan portfolio of banks grew 9.1% in the year till March 26 to <span class='webrupee'>₹</span>14.59 lakh crore.(Bloomberg)
The aggregate home loan portfolio of banks grew 9.1% in the year till March 26 to 14.59 lakh crore.(Bloomberg)
Published on May 10, 2021 06:07 AM IST
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Livemint | ByShayan Ghosh, Mumbai

HDFC reduces interest rates on home loans

  • HDFC also outlined that the changes will affect customers who currently have availed home loan benefits from the lender.
HDFC said customers who have good credit histories can avail new loans at 6.75%. (Abhijit Bhatlekar/ Mint)
HDFC said customers who have good credit histories can avail new loans at 6.75%. (Abhijit Bhatlekar/ Mint)
Published on Mar 03, 2021 09:44 PM IST
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By, Hindustan Times, New Delhi

Competition Commission dismisses complaint against ICICI Bank

  • In its order passed on Wednesday, the regulator said the allegations of abuse of dominance specifically relate to arbitrary increase in interest rate on home loan and increase in tenure of home loan by the bank on the basis of one-sided conditions in the loan agreement.
Existence of a large number of players in the home loan market shows that ICICI Bank cannot operate independently in the market(Hemant Mishra/ Mint file photo)
Existence of a large number of players in the home loan market shows that ICICI Bank cannot operate independently in the market(Hemant Mishra/ Mint file photo)
Published on Jan 28, 2021 04:28 PM IST
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PTI | , New Delhi

RBI’s targeted long-term liquidity measures to ease borrowing cost for NBFCs: Industry

The non-banking financial companies (NBFCs) said the decision to keep the key repo rate -- at which the RBI lends short term money to banks -- unchanged was on expected lines and in consideration with keeping the inflation target while supporting growth.
Muthoot said it is a welcome move that reflects the central bank’s focus on catalysing credit flow and reviving the economy.(REUTERS)
Muthoot said it is a welcome move that reflects the central bank’s focus on catalysing credit flow and reviving the economy.(REUTERS)
Published on Oct 09, 2020 06:45 PM IST
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New Delhi | ByPress Trust of India| Posted by Susmita Pakrasi

Pune builders welcome Maha govt’s move to slash stamp duty

Confederation of Real Estate Developers’ Association of India’s (CREDAI) Pune chapter president Suhas Merchant said that the builders’ body has welcomed the state government’s decision.
A view of under construction building seen at Kharadi in Pune, India, on Sunday.(HT FILE PHOTO)
A view of under construction building seen at Kharadi in Pune, India, on Sunday.(HT FILE PHOTO)
Updated on Aug 27, 2020 06:11 PM IST
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Hindustan Times, Pune | By, Pune

HDFC cuts retail lending rates by 20 basis points

Following the reduction, HDFC’s new rates will now range between 7.5-8.5%. The move comes after State Bank of India reduced its marginal cost of funds based lending rate (MCLR) by 25 basis points across all tenors.
The reduced rate will benefit all existing HDFC retail home loan and non-home loan customers.(Pradeep Gaur/Mint)
The reduced rate will benefit all existing HDFC retail home loan and non-home loan customers.(Pradeep Gaur/Mint)
Updated on Jun 13, 2020 08:55 AM IST
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Mint, Mumbai | ByGopika Gopakumar

Supreme Court seeks RBI response on plea that seeks loan interest waiver

An Uttar Pradesh resident has approached the Supreme Court to challenge the decision of the banks to add the interest during moratorium period to their loan amount.
The Supreme Court has asked the Centre and the RBI to respond to a petition on loan moratorium.(Amal KS/HT Photo)
The Supreme Court has asked the Centre and the RBI to respond to a petition on loan moratorium.(Amal KS/HT Photo)
Updated on May 26, 2020 05:16 PM IST
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Hindustan Times, New Delhi | ByThomas Abraham | Edited by: Amit Chaturvedi

US mortgage rates hover near all-time lows; 30-year at 3.28%

Mortgage applications for home purchases reached a new low in April as the economy and housing market reeled from the shutdown spurred by the coronavirus pandemic.
The normally busy spring homebuying season has been upended. At the same time, however, home prices have been rising.(File Photo)
The normally busy spring homebuying season has been upended. At the same time, however, home prices have been rising.(File Photo)
Published on May 15, 2020 06:20 AM IST
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Washington | ByAssociated Press | Posted by Kanishka Sarkar

Why a home loan is one of the best tax savers you can have

No other tax-saving product can assure the quantum of savings a home loan can provide.
There are several sections under the Income Tax Act that provide hefty deductions for those repaying home loans.(Getty Images/iStockphoto)
There are several sections under the Income Tax Act that provide hefty deductions for those repaying home loans.(Getty Images/iStockphoto)
Published on Feb 07, 2020 11:18 AM IST
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ByBy Adhil Shetty

Home loan tax rebate: Have you claimed these tax benefits yet?

Under Section 80C of the Income Tax Act, borrowers can claim tax exemptions of up to Rs.1.5 lakh on the annual home loan principal repaid.
Homebuyers should be aware of home loan tax benefits before submitting their annual tax return.(Bajaj Finserv)
Homebuyers should be aware of home loan tax benefits before submitting their annual tax return.(Bajaj Finserv)
Updated on Jan 31, 2020 11:18 AM IST
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In new scheme, SBI offers to refund home loan borrowers if builder delays project

If builders fail to finish a project within the deadline, SBI will refund the entire principal amount paid to the developer. The new scheme is expected to boost the real estate sector in India.
State Bank of India (SBI) has launched a scheme for homebuyers(Mint Photo)
State Bank of India (SBI) has launched a scheme for homebuyers(Mint Photo)
Updated on Jan 09, 2020 05:39 PM IST
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Hindustan Times, New Delhi | By

Mohali man robbed of 6.5 lakh

Police said that Jaswinder was on way to his home from Dera Dera Bassi after withdrawing 6.5 lakh from the SBI branch of Dera Bassi
HT Image
HT Image
Published on Jan 04, 2020 12:33 AM IST
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Hindustan Times, Chanidgarh | ByHT Correspondent, Mohali

Loans worth 5 lakh cr, rise in income tax refunds may push up spending

The loans push is part of the government’s efforts to revive demand in a slowing economy. Data released on Friday showed that the economy expanded by 4.5% in the second quarter (ending September 30) of 2019-2020, the lowest rate of growth since March 2013.
The income-tax department said that it had processed 21 million refunds for the current assessment year 2019-20 as on November 28, 2019, a 20% year-on-year jump(Getty Images/iStockphoto)
The income-tax department said that it had processed 21 million refunds for the current assessment year 2019-20 as on November 28, 2019, a 20% year-on-year jump(Getty Images/iStockphoto)
Updated on Dec 04, 2019 09:39 AM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

Are you aware of these latest home loan updates?

With the Central Bank and govt. introducing multiple amendments in the sector constantly, it is crucial for borrowers to remain updated to maximize their benefits.
The most recent surge in housing credit demands has been prompted by updates from the RBI which mandate financial institutions to link their lending rates to external benchmarks such as the MCLR.(iStock)
The most recent surge in housing credit demands has been prompted by updates from the RBI which mandate financial institutions to link their lending rates to external benchmarks such as the MCLR.(iStock)
Updated on Nov 28, 2019 11:32 AM IST
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ByPromotional Feature, HT Brand Studio

Homing in on securities: How to borrow safely against your flat

A house is an asset that can open many doors. See what it takes to mortgage your apartment or raise funds for self-redevelopment.
(iStock)
(iStock)
Published on Oct 26, 2019 08:25 PM IST
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Hindustan Times | ByJessica Joshi

Is it a wise idea to opt for repo-linked loan?

In the past, there has been a lot of talk of banks not being able to effectively transmit rate cuts to customers
RLLR-based home loan will ensure faster rate cut transmission. (Photo: iStock)
RLLR-based home loan will ensure faster rate cut transmission. (Photo: iStock)
Published on Aug 21, 2019 11:54 PM IST
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New Delhi | ByNeil Borate, Nilanjana Chakraborty

SBI lowers lending rate by 15bps, loan EMIs set to ease

The reduction will make all loans cheaper; for instance, the rate on home loans will come down to 8.25% from 8.4%. On a 30 lakh loan over a 20-year period, the savings would be 70,000.
Existing borrowers whose loans are linked to the MCLR (marginal cost of funds based lending rate) will not see any impact on immediately considering the reset clause. For instance, a loan linked to one-year MCLR and taken out in ,say, June, could see a reset only next June.(REUTERS)
Existing borrowers whose loans are linked to the MCLR (marginal cost of funds based lending rate) will not see any impact on immediately considering the reset clause. For instance, a loan linked to one-year MCLR and taken out in ,say, June, could see a reset only next June.(REUTERS)
Updated on Aug 08, 2019 09:46 AM IST
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Hindustan Times, Mumbai | ByVivina Vishwanathan

Investing for your child’s sports ambition

One of newest ‘the path less travelled’ these days is encouraging children to pursue a career in sports.It’s best to create a sports fund to fund these expenses through it rather than use the monthly surplus to fund these expenses in an unstructured manner.
(Shrikrishna Patkar/illustration)
(Shrikrishna Patkar/illustration)
Published on Aug 05, 2019 04:07 PM IST
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Hindustan Times, Mumbai | ByDeepali Sen

Banks cut MCLR: What it means for you?

Banks including ICICI Bank Ltd, Bank of Baroda and Oriental Bank of Commerce, have cut their MCLR by 5-10 bps in July. The move comes after the Reserve Bank of India (RBI) cut policy rate for the third time in June.
You now also have the option to go for loans linked to repo rate or other external benchmark rates instead of MCLR for floating rate loans.(Getty Images/iStockphoto)
You now also have the option to go for loans linked to repo rate or other external benchmark rates instead of MCLR for floating rate loans.(Getty Images/iStockphoto)
Updated on Jul 15, 2019 12:00 PM IST
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Hindustan Times, Mumbai | By

8 key changes in tax provisions announced in Budget 2019

In a key announcement, Nirmala Sitharaman announced that Aadhaar and PAN would be made interchangeable for tax-filing purpose. This means that if you don’t have a PAN, you can file returns using Aadhaar.
Finance Minister Nirmala Sitharaman in her maiden Budget speech on Friday proposed many changes in income tax provisions for this year but kept income tax slab rates unchanged.(ANI Twitter)
Finance Minister Nirmala Sitharaman in her maiden Budget speech on Friday proposed many changes in income tax provisions for this year but kept income tax slab rates unchanged.(ANI Twitter)
Updated on May 28, 2020 09:27 PM IST
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New Delhi | ByHT Correspondent

Your home loan to get a revamp as SBI links loan to repo rate

So far, all floating rate loans offered by SBI were linked to marginal cost of fund based lending rate (MCLR). Now, you will have the option to choice loans linked to either repo rate or MCLR.
Though it is not a new concept to link home loan rates to external benchmark, SBI is the first bank to link it to repo rate.(Getty Images/iStockphoto)
Though it is not a new concept to link home loan rates to external benchmark, SBI is the first bank to link it to repo rate.(Getty Images/iStockphoto)
Published on Jul 01, 2019 12:04 PM IST
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Hindustan Times | ByVivina Vishwanathan

How to build kitty for down payment of home loan

If you are not able to decide the right mix for your investment, you may want to seek help from a financial planner or a financial advisor.
Depending on the assumed return, you can increase or decrease you investment amount per month.(Representative Image)
Depending on the assumed return, you can increase or decrease you investment amount per month.(Representative Image)
Updated on Jun 25, 2019 10:19 AM IST
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Hindustan Times, Mumbai | ByHT Correspondent

Life Hacks: Where is your personal moral hazard, asks Charles Assisi

Everyone borrows to fund the present. But how much do you prudently borrow from the future? That is a troubling question.
(HT Illustration: Sudhir Shetty)
(HT Illustration: Sudhir Shetty)
Updated on May 30, 2019 06:22 PM IST
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Hindustan Times | ByCharles Assisi

If Dombivli building was illegal, how did banks sanction loans: Residents

The civic body claimed the building was in the way of a road to be built as part of the city’s development plan and no permissions were acquired during its construction
On Wednesday, Balaji Complex at Nandivli in Dombivli was partially demolished by KDMC.(Rishikesh Choudhary/HT)
On Wednesday, Balaji Complex at Nandivli in Dombivli was partially demolished by KDMC.(Rishikesh Choudhary/HT)
Updated on May 12, 2019 12:24 AM IST
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Hindustan Times | By

‘Can’t sleep at night’: Despair over jobs as Jet Airways grounded

Thousands of employees have been stung by the rapid unravelling of Jet Airways, which, saddled with more than $1.2 billion in bank debt, grounded all its planes on Wednesday after lenders rejected a plea for emergency funds.
The shutdown has deepened the crisis as dues to lessors, staff and suppliers pile up and lenders scramble to find a buyer for what was once India’s largest private airline.(REUTERS)
The shutdown has deepened the crisis as dues to lessors, staff and suppliers pile up and lenders scramble to find a buyer for what was once India’s largest private airline.(REUTERS)
Updated on Apr 18, 2019 03:41 PM IST
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Reuters | ByReuters

Man booked for buying Audi with forged documents

According to the complainant, Pratap Singh, a resident of Carterpuri village, Sector 23, the issue came to light when a few bank officials came to his residence asking to pay the instalment of an Audi car, which they said his son had financed.
Man booked for buying Audi with forged documents(Getty Images/iStockphoto)
Man booked for buying Audi with forged documents(Getty Images/iStockphoto)
Updated on Apr 11, 2019 08:16 AM IST
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Gurugram | By

State Bank of India cuts lending rate: Here’s how it affects you

SBI’s marginal rate cut of 5 bps comes after the Reserve Bank of India’s consecutive rate cut by 50 bps in the February and April monetary policy.
Most SBI retail loans, including home loan, car loan and personal loans, are currently linked to one-year MCLR.(REUTERS File)
Most SBI retail loans, including home loan, car loan and personal loans, are currently linked to one-year MCLR.(REUTERS File)
Updated on Apr 10, 2019 12:35 PM IST
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Hindistan Times, Mumbai | ByVivina Vishwanathan
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