Home loan in India: Facts and Reviews
An expert on home loans in India, Joseph Samson passionately follows every single development in this personal finance segment in his blog on A fitness freak, Joseph likes to spread the message accross effectively in simple words.
By Joseph Samson

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Thursday, November 6
Cheques processing should be done more carefully – RBI

The apex bank- RBI has asked the banks to be more alert on cheques of the larger amounts. Keeping the increasing cheque scams in the mind the RBI has asked the bank to be more cautious while clearing the cheques of heavy amounts.

The banks have been asked to ensure that the private information is not misused either by the bank or by the vendor side. Banks should send SMS to drawer when cheques are...

Posted 11:43:42 AM Complete Story | Post Comment | Read Comments(0)

Thursday, November 6
Banks to finance the Vehicle loan segment again

According to the reports in the recent few years the banks reduced their lending towards the Commercial vehicle segment. It was expected that the lending in this sector might lead to decline in the credit quality. But now with the growing economy and improving conditions the demand for the these is loans is increasing so the banks have decided to finance in the commercial vehicle segment.

Managing director of the IndusInd bank told...

Posted 11:36:05 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, November 4
Indian Bank offering low rates on home loan and car loan

Indian bank is offering various offers and low interest rates on home and car loans to its customers. In addition to this the bank has also waived off the processing fees. The offers are available up to 31st January, 2015.

The bank also organized a 1 day camp for home and vehicle loans. The bank will offer home loans for purchase of new home, renovation etc. On the Mela day bank has...

Posted 11:37:00 AM Complete Story | Post Comment | Read Comments(0)

Thursday, October 30
Yes bank has planned to enter into home loan market

Young generation bank – yes bank has planned to enter housing loan market. Bank assumes that home loan will prove to be a strategic product that will help the bank to enhance the retail banking. Reports have shown that the home finance market in India stood at Rs 9-lakh crore at the end of March.

Looking towards the home loan market and the bank has planned to enter in to home loan...

Posted 11:31:44 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 28
Banks signed MOU with state govt. for sale of sand in Andhra Pradesh

The state govt. in Hyderabad has signed MOU with 5 major banks of the country. The five banks namely State bank of India, Andhra bank, State Bank of Hyderabad, syndicate bank and Indian bank will open a separate account for sand mining.

It has been reported that the rates of the sand will be fixed and consumer will get the amount deposited as per the rate fixed and will get the receipt. Using...

Posted 11:21:41 AM Complete Story | Post Comment | Read Comments(1)

Tuesday, October 21
SBI branches resumed its working in Andhra Pradesh

Yesterday, 209 branches of the State Bank of India resumed back to its normal operations. Bank has reported that 190 of total 502 ATMs are functional in cyclone-hit Visakhapatnam, Vizianagaram and Srikakulam districts. Bank has also established mobile ATM facilities for the people over there.

During the calamities the life without cash becomes worse. The people were unable to carry out any banking transaction over there. Now the citizens will...

Posted 11:33:58 AM Complete Story | Post Comment | Read Comments(0)

Monday, October 20
Karur vysya bank won IDRBT Banking Technology Excellence award

Along with the Federal Bank,  Karur Vysya bank has also received IDRBT award. Recently in the ceremony organized by the IDRBT, Karur Vysya bank was presented with the award for Best Bank Award for Business Intelligence Initiatives among small banks.

Managing director and CEO of the bank presented with the IDRBT Banking Technology Excellence award is for 2013-14 by the RBI governor. IDBRT awards and appraises the bank for their well performance. Every year...

Posted 11:31:47 AM Complete Story | Post Comment | Read Comments(0)

Monday, October 20
NHB made home loan borrowing easier

National Housing bank has planned to offer a special diwali gift to the new home loan customers. It is being informed that retail home borrowers can now get the loan from housing finance companies by paying lower amounts as their initial contribution.

National Housing bank has asked the Housing finance companies to to provide housing loans above Rs 20 lakh with a loan-to-value (LTV) ratio of up to 90 per cent if such loans are...

Posted 11:29:18 AM Complete Story | Post Comment | Read Comments(0)

Friday, October 17
Rise in net profit of the Federal Bank

Kerala based – federal Bank has gained a profit of 6%. The bank has reported that the net profit of the bank has increased from Rs 225.81 crore last year to Rs 240.30 crore. Net interest income of the bank has increased by 10.40% to Rs 605.80 crore.

Further the Gross non-performing assets (NPAs) of the bank were 2.10%, down from 3.39% in the same quarter of the previous year. Net advances of...

Posted 11:14:36 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 14
Retail Utsav of Andhra Bank received an overwhelming response

Recently Andhra Bank had organized a retail utsav in Hyderabad. It has been reported that bank has received whooping response from the customer. The two day mega property show of the bank turned out to be a success. Within a period of two days bank has sanctioned more than 100 loans.

The show offered the customers with various facilities. The customers got the chance to interact with the bankers. There was no processing...

Posted 11:17:03 AM Complete Story | Post Comment | Read Comments(0)

Monday, October 13
Federal bank joined hand with IIFL group to offer broking services

An old private sector lending institution of the country – Federal Bank has planned to join hands and work with ndia Infoline, a part of IIFL Group. Through this tie up the bank aims to offer improved broking services to the customers.

The bank has reported that, this initiative of the bank will assist the customers with the enhanced quality broking service in India as well as abroad. The customer will be provided...

Posted 11:25:53 AM Complete Story | Post Comment | Read Comments(0)

Friday, October 10
Retail Utsav organized by Andhra bank

For the coming days Andhra Bank is organizing a mega property show at Shilpakala Vedika. This is the part of the bank’s retail Utsav. The General Manager of the bank of the Hyderabad has stated that the bank has planned to waive off the processing fee under this utsav and in addition to this the bank will also spot approval to the eligible customers.

More than 30 builders and four wheel dealers are expected...

Posted 11:30:35 AM Complete Story | Post Comment | Read Comments(0)

Friday, October 10
Camp organized by IDBI bank to help differently disabled people

Last day as a part of its corporate social responsibility (CSR) IDBI bank organized a camp at Bishnu Nirmala Bhawan in Guwahati. The camp was organized to help the physically challenged person. Through the camp different appliances were distributed to the physically and mentally challenged people.

With the aim to help the society in social upliftment the bank come up with this initiative that will assist the challenged people of the society to...

Posted 11:28:16 AM Complete Story | Post Comment | Read Comments(0)

Thursday, October 9
New Home loan product by Muthoot Finance

For the home loan customers the Muthoot Finance has planned to launch a product ‘Home Down Payment Loan'. This product will assist the customers in availing home loan easily. It will offer them with the facility of finance margin money needed to avail of home loans.

Many people face problem while going for the home loan because they are required to pay 20% margin. In order to resolve their problem the Muthoot finance...

Posted 11:39:56 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, October 8
No reduction in car loan rates : SBI

While highlighting the strategy for this festive season, State Bank of India has reported that demand for the car loan is raising rapidly. The bank reported that up to the last the bank was dealing nearly 400-600 car loans per day.

Bank is receiving car loan demand on a large scale. As on 26th September the car loans reaches up to 2000 for the day and in terms of amount the bank has...

Posted 11:27:53 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, October 8
Home loans high on demand

According to the recent reports it has been noticed that home loan demand has increased by 23% in the first half of this fiscal year. More number of customers are approaching banks and house financing companies for the home loans.

Seeing this, the banks and housing finance companies are endeavoring to offer the customers with best deals that will suit them according to their needs. Following the trend Bank of Baroda...

Posted 11:23:29 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 7
Interest rates are unlikely fall to this festive season

All the customers waiting for the cut down in rates this Diwali will be disappointed. Banks have reported that there will be no cut down in rates this festive season. Only offers being provided by the banks will be waiving off the processing fee and increasing the loan tenures.

Since RBI has maintained the same rates due to inflation therefore, the banks are unlikely to reduce the rates. In addition to this due to...

Posted 11:22:48 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 7
Exciting festive offers by the Banks

Good news lined up for the customers. This festive season banks are coming up with the exclusive range of offers to lure the maximum number of customers.

All the people wait for the festive season to grab the maximum purchases with the offers. This season the Bank of Baroda, Corporation Bank, Canara Bank, Bank of India have decided to waive off the processing fee on home loans. Further the banks like PNB, SBI have...

Posted 11:11:19 AM Complete Story | Post Comment | Read Comments(2)

Monday, October 6
SBI updated Housing loan scheme for its employees

For its employees State Bank of India has reviewed the housing loan scheme. After the revision the SBI has added liberal provisions in terms of maximum limits and expanded repayment period. Prior to this the scheme was revised in February, 2008.

All the employees who are on roll can enjoy the benefits of this scheme. The scheme is effective from September 19, 2014. It is reported that the new rates for all the all...

Posted 10:32:27 AM Complete Story | Post Comment | Read Comments(1)

Monday, October 6
More number of loans disbursed in two weeks to19 September

Recent Data showed that Indian Banks have sanctioned more loans in two weeks to September 19. In comparison to the previous year as per the analysis by the Reserve bank it is noticed that 9.7% more loans are distributed by the Indian Banks this year. The deposit rate of the bank has increased to 13.4%.

Further the report has also stated that outstanding loans raised Rs 55.9 billion to Rs 61.5 trillion in the two...

Posted 10:30:19 AM Complete Story | Post Comment | Read Comments(0)

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