NEWS & ADVICE : HOME LOANS
Despite economic slowdown, demand for home loans remains steady: NHB
By Joseph Samson
Oct 25, 2012
Print    Email    RSS   

The aggressive competition among housing finance providers have led to a price war in which the housing finance companies are constantly slashing their interest rates. This trend, among banks and housing finance firms, will eventually benefit home loan borrowers, said Mr. R. V. Verma, the Chairman and Managing director of National Housing Bank.

Verma further added that inspite of having high funding requirements, these home loan lenders, will continue to withstand competition because of their core competencies in areas of quality of service and turnaround time.

It is reported that after the slowdown in corporate loans segment, banks are increasing their retail loans products aggressively this festive season. Take for instance the festive season offer by State Bank of India, which is providing home loans till Rs. 30 lakh at 10 percent interest rate, a reduction from the earlier rate of 10.75 percent. Similarly, loans above Rs. 30 lakh are being provided at interest rates of 10.15 percent, declining from 11.25 percent.

The NHB chief also added that the current trend in home loans segment implies that the economic slowdown has not had an adverse effect on demand for home loans and that its demand is steady despite tough economic conditions.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Financial Review: A must for every individual
A chronicle of excesses by loan recovery...
Reasons for rejection of loan application
Home Loan or Own Funds: A Classic Dilemma
Mortgage insurance’s relevance in India


I want my Housing loan provisional certificate....
PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive