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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Tuesday, August 19
Social media – an effective way for banking

Majority of the people these days use social media sites. Social media is a good way to reach out the people. Banks have also found the social media – an interesting way to attract more number of customers. The banks reported that social media is better and cost effective way in comparison to the search engine marketing (SEM) or direct selling agents.

Although the SEM or direct selling agents method had been very successful...

Posted 11:27:12 AM Complete Story | Post Comment | Read Comments(0)

Thursday, August 14
UCO home loan Campaign

Recently UCO bank has rolled out an exclusive campaign for the home loan buyers. The bank has launched “UCO Home Loan campaign”, the customers can enjoy the facility of this campaign from August 11 till the end of the month.

This campaign will offer the buyers with an interest rate of 10.20 percent and further a full waiver on processing charges. An exciting opportunity offered UCO bank to customers to avail home loan. The...

Posted 11:40:10 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, August 12
New home loan product by Bajaj Finance

Bajaj Finance has brought an easy way for its customers that will help them in making payments. The bank has launched the new home loan product through which the customers can pay their instalments after three months of disbursements.

With the help of this scheme the company is trying to lure more customers and expand its services. This can help the Bajaj Finance to double up its home loan portfolio to Rs. 28,000 crore by...

Posted 11:35:36 AM Complete Story | Post Comment | Read Comments(0)

Thursday, August 7
Reduced home loan rates for new borrowers of HDFC bank

Good news for the customers planning to take Home loan from HDFC bank. HDFC bank has slashed down the home loan rates for the new borrowers irrespective of the loan amount. This offer is in effect from the 1st august,14.

This is the new offer of the bank named ‘Monsoon Bonanza’. The customers can grab this offer from 1st August till end of September, 2014. This will offer the new borrowers, salaried or...

Posted 11:21:27 AM Complete Story | Post Comment | Read Comments(1)

Wednesday, August 6
Home and car loan EMI are unlikely to drop down this year

The recent decision of the apex bank to keep the rates on hold- has faded the hopes of home and car loan EMIs to drop down. At present the majority of bank provides home loan at the rates in the range of 10.10% - 10.75% and car loans in the range of 10.9% to 13% for 7 years.

Repo rate the rate at which RBI lends to the bank has been kept unchanged at...

Posted 11:10:17 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, August 5
New branches of IDBI bank to be launched soon

Public sector bank IDBI bank has announced that the bank is planning to launch new 600 branches this year. The bank is in full plan to expand its banking network all over the country.

After adding up these 600 new branches the bank will have total of 2000 new branches. Further it has been reported that bank is having a detailed plan rolled out for augmenting the CASA. The bank is not having any...

Posted 10:48:53 AM Complete Story | Post Comment | Read Comments(0)

Friday, August 1
Canara Bank to take over the Amanath co-op bank

Yesterday the Karnataka high court has asked the Canara Bank to take over the amanath co-op bank (ACB). Since long this take over was to take place. Finally the apex has approved the Canara bank to take over the ACB bank.

Now the customers of ACB bank can access their accounts soon. Canara Bank will take over specified assets and liabilities of ACB. The doubtful assets will remain with Amanath Cooperative Society. The...

Posted 11:36:24 AM Complete Story | Post Comment | Read Comments(0)

Thursday, July 31
RBI likely to maintain the rates

HSBC stated in a report that the apex is likely to likely to maintain the rates till the next review meeting. The apex bank will keep the rates on pause. It is expected that the RBI may go for a rise in the rates by the last quarter of this fiscal year.

In the June 3 policy review, the RBI left key rates unchanged and unlocked about Rs. 40,000 crore of funds by reducing the...

Posted 11:40:25 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 30
Affordable housing loan for rural people

To provide the rural and low income people with the ease in buying home, a new home loan product is launched. Repco home finance has introduced a new home loan product which will assist the medium and low income group to buy home at the affordable prices.

this scheme comes under the purview of the rural housing fund of the National Housing Bank (NHB) at an interest rate of 9.60% per annum. The main motive...

Posted 11:28:49 AM Complete Story | Post Comment | Read Comments(0)

Monday, July 28
Exclusive car loan product for women by Federal bank

A leading private sector bank - federal bank has launched a special loan scheme for the women. The bank has rolled the loan product named ‘she Car’ Loan especially for the ladies.

This product will facilitate the women to access the car loan easily. It will be offering the women with car loan at the exclusive rates. The women will be provided with the concessional rate of 10.50% for the period of 3 years,...

Posted 11:47:40 AM Complete Story | Post Comment | Read Comments(0)

Thursday, July 24
Hiring in the upcoming bank – Bandhan

It has been reported that the new upcoming bank has invited applications for the people from banking and human resource fields. The bandhan has received an unexpected response from the people. Till Monday for the 15 posts the company received nearly 27,000 applications.

Major part of the candidates is currently working in well reputed public- and private-sector banks. State Bank of India had last year received nearly 1.7 million applications for 1,500 probationary-officer jobs. 70%...

Posted 11:39:10 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, July 22
Banking products for women

Banks these days are coming out with more of the banking products for the women. To make more women indulged in banking, banks are introducing special offers and schemes for the women. In addition to this last year a bank to primarily focus on banking needs of women was established.

It has been reported that many banks offer special saving accounts for the ladies that come with added benefits. Axis Bank offer Smart Privilege...

Posted 11:12:47 AM Complete Story | Post Comment | Read Comments(0)

Monday, July 21
Job opportunity in Bank of Maharashtra

Bank of Maharashtra is recruiting candidates for the post of Company Secretary. The bank has invited the interested candidates to apply before 28th of this month.

In order to apply the candidate needs to be an Associate Membership of Institute of Company Secretaries of India (ACS) with Computer Literacy. Further he/she must hold a graduation degree with minimum 55% marks and should not be above the age of 45 years.

Interested and eligible candidates...

Posted 11:26:28 AM Complete Story | Post Comment | Read Comments(0)

Friday, July 18
Home loan EMIs expected to drop down by 8-10%

Good news lined up for the home loan customers. On Wednesday it was informed that in order to ease norms for banks to raise long term funds for financing affordable housing projects the Apex bank has decided to bring down the Home loan EMI by 8-10%

This measure of the RBI will help to boost the infrastructure development and make the housing affordable. RBI informed that lending for affordable housing means loans eligible under priority...

Posted 11:04:20 AM Complete Story | Post Comment | Read Comments(0)

Thursday, July 17
Dropdown in home loans and raise in education loan

According to the reports and data it has been noticed that the demand of the home loans is dropping down and on the other hand the demand of the education loan is rising up.

Last year due to the glooming economy and a slowdown in the real estate market the home loans demands went down. In comparison to the last year a drop down of over 7,000 beneficiaries has been recorded I Home loans. Experts...

Posted 11:23:59 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 16
New Loan product unveiled by BMB bank

The women oriented bank of the country – Bhartiya Mahila Bank has come up with a new loan product. The bank has launched BMB rent a new product to benefit the owners of properties who have rented out their premises.

This loan product is basically designed for the individuals and firms who have rented out their property to the big renowned companies and organizations. Through this product the bank will be assisting them...

Posted 11:22:15 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, July 15
NBFC not levy pre payments on floating rate term loans : RBI

Non- banking financial companies (NBFC) have been instructed by RBI not to charge pre-payment penalties on floating rate term loans, including housing loans. 2 months earlier RBI has also asked the Banks for the same, now RBI has instructed the NBFC to follow the same.

RBI stated that in order to bring the consistency with regard to prepayment of various loans by borrowers of banks and NBFCs, the RBI has asked the NBFC not charge...

Posted 11:07:28 AM Complete Story | Post Comment | Read Comments(0)

Monday, July 14
Canara Bank expanding its services in villages

Last Day Public Sector bank Canara Bank expanded its Gramodaya Scheme in Delhi. It has been stated that bank has introduced this scheme, for the overall development of villages or slums. The bank has brought more slums under the project.

Bank acquired three new slum areas including one in the Vasant Kunj. Recently Bank had also organized a financial literacy camp for the women in slums that will assist them in developing and enhancing...

Posted 11:34:50 AM Complete Story | Post Comment | Read Comments(1)

Thursday, July 10
Gold loan scheme of Allahabad bank

Public sector bank Allahabad Bank has decided to launch a gold loan scheme. The bank will be providing loan against the purchase of gold as collateral. This scheme will be launched all over the country.

At present the bank is providing this scheme in 5 states of South India – Andhra Pradesh, Kerala, Karnataka, Kolkata and Tamil Nadu. Recently the company has started this scheme across 25 branches in Kolkata. Soon the bank is...

Posted 11:28:15 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 9
First Ad campaign of Federal Bank

For the first time State owned bank – Federal bank has launched its brand centric campaign. The theme of the campaign is long-lasting partnerships. Already three series of television commercials are released. Keeping the interest of the people in mind an appealing TV commercial is made that portrays an endearing bonding of an old yet ‘young-at-heart’ couple. The Ad campaign basically shows the lovable relation that the bank shares with their customers and it...

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

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