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Muthoot said it is a welcome move that reflects the central bank’s focus on catalysing credit flow and reviving the economy.(REUTERS)

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

By Press Trust of India| Posted by Susmita Pakrasi | New Delhi
PUBLISHED ON OCT 09, 2020 06:45 PM IST
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.
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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)

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

By HT Correspondent | Hindustan Times, Pune, Pune
UPDATED ON AUG 27, 2020 06:11 PM IST
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.
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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)

HDFC cuts retail lending rates by 20 basis points

By Gopika Gopakumar | Mint, Mumbai
UPDATED ON JUN 13, 2020 08:55 AM IST
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.
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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)

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

By Thomas Abraham | Edited by: Amit Chaturvedi | Hindustan Times, New Delhi
UPDATED ON MAY 26, 2020 05:16 PM IST
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.
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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)

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

By Associated Press | Posted by Kanishka Sarkar | Washington
PUBLISHED ON MAY 15, 2020 06:20 AM IST
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.
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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)

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

By By Adhil Shetty
PUBLISHED ON FEB 07, 2020 11:18 AM IST
No other tax-saving product can assure the quantum of savings a home loan can provide.
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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)

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

UPDATED ON JAN 31, 2020 11:18 AM IST
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.
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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)

In new scheme, SBI offers to refund home loan borrowers if builder delays project

By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON JAN 09, 2020 05:39 PM IST
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.
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HT Image
HT Image

Mohali man robbed of 6.5 lakh

By HT Correspondent | Hindustan Times, Chanidgarh, Mohali
PUBLISHED ON JAN 04, 2020 12:33 AM IST
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
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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)

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

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON DEC 04, 2019 09:39 AM IST
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.
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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)

Are you aware of these latest home loan updates?

By Promotional Feature, HT Brand Studio
UPDATED ON NOV 28, 2019 11:32 AM IST
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.
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(iStock)
(iStock)

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

By Jessica Joshi | Hindustan Times
PUBLISHED ON OCT 26, 2019 08:25 PM IST
A house is an asset that can open many doors. See what it takes to mortgage your apartment or raise funds for self-redevelopment.
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RLLR-based home loan will ensure faster rate cut transmission. (Photo: iStock)
RLLR-based home loan will ensure faster rate cut transmission. (Photo: iStock)

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

By Neil Borate, Nilanjana Chakraborty | New Delhi
PUBLISHED ON AUG 21, 2019 11:54 PM IST
In the past, there has been a lot of talk of banks not being able to effectively transmit rate cuts to customers
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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)

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

By Vivina Vishwanathan | Hindustan Times, Mumbai
UPDATED ON AUG 08, 2019 09:46 AM IST
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 Rs 70,000.
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(Shrikrishna Patkar/illustration)
(Shrikrishna Patkar/illustration)

Investing for your child’s sports ambition

By Deepali Sen | Hindustan Times, Mumbai
PUBLISHED ON AUG 05, 2019 04:07 PM IST
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.
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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)

Banks cut MCLR: What it means for you?

By HT Correspondent | Hindustan Times, Mumbai
UPDATED ON JUL 15, 2019 12:00 PM IST
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.
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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)

8 key changes in tax provisions announced in Budget 2019

By HT Correspondent | New Delhi
UPDATED ON MAY 28, 2020 09:27 PM IST
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.
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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)

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

By Vivina Vishwanathan | Hindustan Times
PUBLISHED ON JUL 01, 2019 12:04 PM IST
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.
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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)

How to build kitty for down payment of home loan

By HT Correspondent | Hindustan Times, Mumbai
UPDATED ON JUN 25, 2019 10:19 AM IST
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.
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(HT Illustration: Sudhir Shetty)
(HT Illustration: Sudhir Shetty)

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

By Charles Assisi | Hindustan Times
UPDATED ON MAY 30, 2019 06:22 PM IST
Everyone borrows to fund the present. But how much do you prudently borrow from the future? That is a troubling question.
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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)

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

By Sajana Nambiar | Hindustan Times
UPDATED ON MAY 12, 2019 12:24 AM IST
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
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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)

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

By Reuters | Reuters
UPDATED ON APR 18, 2019 03:41 PM IST
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.
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Man booked for buying Audi with forged documents(Getty Images/iStockphoto)
Man booked for buying Audi with forged documents(Getty Images/iStockphoto)

Man booked for buying Audi with forged documents

By HT Correspondent | Gurugram
UPDATED ON APR 11, 2019 08:16 AM IST
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.
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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)

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

By Vivina Vishwanathan | Hindistan Times, Mumbai
UPDATED ON APR 10, 2019 12:35 PM IST
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.
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The Reserve Bank of India’s (RBI) decision on Thursday to reduce the repo rates (RR) by 25 basis points (bps).(Mint)
The Reserve Bank of India’s (RBI) decision on Thursday to reduce the repo rates (RR) by 25 basis points (bps).(Mint)

Relief for real estate sector in Mumbai, say builders

By HT Correspondent | Hindustan Times, Mumbai
PUBLISHED ON APR 05, 2019 06:52 AM IST
The reduced Repo rates could result in lower interest rates on home loans as well as lower equated monthly instalments (EMIs) for home buyers. Builders will benefit as funds to execute their projects will be available at cheaper rates.
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The Reserve Bank of India (RBI) announced its first policy of FY 20 on Thursday(REUTERS)
The Reserve Bank of India (RBI) announced its first policy of FY 20 on Thursday(REUTERS)

RBI cuts repo rate by 25 bps for second time in 2019; loans may get cheaper

By Vivina Vishwanathan | Hindustan Times, Mumbai
UPDATED ON APR 04, 2019 01:33 PM IST
The key benchmark rate at 6% and the MPC has maintain the neutral monetary policy stance
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(iStock)
(iStock)

Tips and tricks to help home-buyers in the new financial year

By Aishwarya Iyer | Hindustan Times
PUBLISHED ON MAR 06, 2019 07:41 PM IST
Amid a host of new policies on real-estate, and ahead of a new financial year and a general election, experts say the months ahead can be a mixed bag if you aren’t paying close attention.
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Amrapali homebuyers at a protest against the UP government outside Noida stadium on Jan 20. Virendra Singh Gosain/HT file(HT File)
Amrapali homebuyers at a protest against the UP government outside Noida stadium on Jan 20. Virendra Singh Gosain/HT file(HT File)

Will not repay our home loans if government does not help: Amrapali homebuyers

By Vinod Rajput | Noida
PUBLISHED ON MAR 03, 2019 03:22 AM IST
The decision comes after the Supreme Court(SC) directed the Delhi Police’s Economic Offences Wing to arrest Anil Sharma, chairman and managing director of Amrapali Group.
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People stand in queue to file their IT returns on last day of financial year outside Income Tax office at BKC, Bandra in Mumbai, India, on Tuesday, March 31, 2015.(Hindustan Times file photo)
People stand in queue to file their IT returns on last day of financial year outside Income Tax office at BKC, Bandra in Mumbai, India, on Tuesday, March 31, 2015.(Hindustan Times file photo)

Individuals earning Rs 8-9 lakh annually can escape taxes. Here’s how

By Press Trust of India | New Delhi
UPDATED ON FEB 03, 2019 09:40 AM IST
Individuals earning Rs 8-9 lakh annually would not have to pay any income tax if they make proper investments in tax saving instruments like provident fund, life insurance, pension scheme and home loan, Revenue secretary Ajay Bhushan Pandey said Saturday.
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The industry still hopes getting infrastructure status to the real estate in the budget announcement.(HT Photo)
The industry still hopes getting infrastructure status to the real estate in the budget announcement.(HT Photo)

‘Given elections, focus will be to woo voters’: Realtors give up on budget

By Press Trust of India | Mumbai
UPDATED ON JAN 30, 2019 01:16 PM IST
The realty industry is not expecting much from the interim budget being presented Friday saying given the elections the entire exercise will be to woo the voters.
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