NEWS & ADVICE : HOME LOANS
RBI panel presented new options to make home loans easier
By Joseph Samson
Apr 30, 2014
Print    Email    RSS   

It has been reported that the apex bank- reserve bank of India is seeking a new way that will provide easy credit options for the home loans. The panel is proposing a benchmark for floating rate loans for banks that will help to give borrowers a better estimate of their credit cost.

Panel has proposed various measures to make the home loans transfer faster. Panel also recommended that rates should be fixed without getting caught up with when banks change their Base Rates. Further they stated that no extra charges should be taken from the customers in case they transfer from BPLR linked rates to base rates.

If the proposal of the panel is implemented it will make loan cheaper and easier for the customers. Many times banks change the rates without informing the customers. This proposal will bring more transparency. Panel also reported that floating rate loan covenant may have interest rate reset periodicity and the resets may be done on those dates only, irrespective of changes made to the Base Rate within the reset period.

 


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

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
An insight into the era of teaser loans
Make your home loan repayment easier
Refinancing your home loan: is it a...
Pre-pay your home loan
This is how a bank lends money


WHAT IS INTEREST RATE OF HOME LOAN FOR Defence...
WHAT IS INTEREST RATE OF HOME LOAN FOR Defence...
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