Home loan News

RBI had last week reduced repo rates by 25 basis points to 5.25 percent, which will be passed on by major banks as reduction in MCLR, RLLR, RBLR and other benchmark-linked loan rates. Here's a list of top banks that have slashed their MCLR, RLLR, RBLR rates.

CA Nitin Kaushik stated that instead of paying the whole EMI once a month, splitting it into two smaller payments every 15 days would be beneficial for the borrowers.

While MCLR-linked loans are also expected to move in line with repo rate changes, the adjustments are not always equal. So, even if the RBI cuts the repo rate by 25 basis points, your loan rate may reduce by only around 10 basis points.

The techie cautioned that those who tend to overthink or struggle with anxiety should think carefully before taking a home loan, as the mental stress can be significant. Currently working as a software engineer at an automotive company in Germany, he shared that he ultimately paid Rs 67 lakh in total, including Rs 14 lakh as interest.

Sujit Bangar, founder of TaxBuddy.com, in a detailed LinkedIn post, has talked about a lesser-known loan variant --Home Loan Over Draft-- and how it can mitigate all your financial pains.

Who can take top-up loans? How much money can be borrowed for top-up loans? What is the interest rates on top-up loans? This and other details explained.

Go for cash fund or Home Loan? A Chartered accountant has explained all aspects of buying a home.

Question was raised in Lok Sabha whether any weightage is given to CIBIL scores by public sector banks while lending home loan, gold loan and farm loan.

Are you planning to buy your home and are considering applying for a home loan? If so, you should compare the interest rate offered by different banks in India to make an informed choice. 

Taking to Reddit, a user has shared how builders with their "No EMI till possession" scheme trap lakhs of Indians into paying EMIs for homes that they may never receive. 

Although the current repo rate pause means no immediate EMI relief, borrowers can still take several effective steps to reduce their monthly home loan payments.

Taking to Reddit, the man said that buying a house and taking a loan can sometimes make you paranoid and, at times, can also be overwhelming. 

Major public sector banks including Bank of Baroda, Canara Bank, PNB, and Indian Bank have trimmed their Marginal Cost of Funds-based Lending Rates (MCLR) by up to 5 basis points.

According to the Knight Frank Affordability Index, Ahmedabad is the most affordable housing market among the top eight cities, with a ratio of 18 per cent, followed by Pune at 22 per cent and Kolkata at 23 per cent.

SBI has reduced EBLR and RRLR by 50 basis points, the Marginal Cost of Funds Based Lending Rate (MCLR) though remains unchanged. 

The central government provides HBA benefit to all central government employees to help them build their own homes. 

Take a peek into home loan interest rates offered by various public and private sector banks.

Saving money on your home loan interest can significantly impact your financial well-being. Mitigating your home loan interest payout involves proactive financial management.

Income norm on Bajaj Housing Finance Sambhav Home Loans starts from only Rs 10,000 per month, with loan amounts as low as Rs 10 Lakh. 

While borrowers mostly focus on the EMI amount when taking the loan, they forget many essential things to get the loan sanctioned.