Home Loan Vs. Mortgage Loan: Know The Difference

Aug 27, 2024, at 11:48 pm

When navigating the world of property financing, understanding the distinction between a home loan and a mortgage loan is crucial. Though often used interchangeably, these terms have specific differences that can impact your financial planning. This guide will help you distinguish between them, ensuring you make informed decisions.

Home Loan Balance Transfer: Unlocking the Path to Savings

Apr 18, 2024, at 12:12 am

In the realm of managing home loan finances, a balance transfer facility emerges as a strategic tool for homeowners seeking to optimize their finances. Through home loan refinancing, you can transfer your outstanding loan amount from the existing lender to a new lender, typically to avail of a lower home loan interest rate. 

Tips for a Smooth Home Loan Balance Transfer: Dos and Don'ts

Jul 07, 2023, at 11:04 pm

In the case of home loans, the rate of interest offered plays a crucial role in determining the affordability of the loan. High home loan interest rates can easily push one's EMIs into the unaffordable range and amplify the burden of loan repayment. 

The Role of Home Loan Tax Benefits in Affordable Housing Initiatives

Jun 30, 2023, at 11:45 pm

Homeownership is a dream for many individuals and families, and governments around the world have recognized the importance of making housing more affordable. In an effort to support affordable housing initiatives, governments often provide tax benefits specifically targeted towards home loans. These home loan tax benefits play a significant role in making homeownership more accessible and financially viable for individuals. In this blog post, we will explore the crucial role of home loan tax benefits in affordable housing initiatives, shedding light on how they can positively impact aspiring homeowners.

Bank of India slashes home loan interest rates to 8.30 percent

Nov 10, 2022, at 12:30 am

New Delhi: Bank of India’s Star Home Loan now comes with a best-in-class competitive interest rate starting at 8.30 percent per annum with most affordable EMI beginning at Rs.755 per lakh.

Bank of Baroda slashes home loan interest rate for limited period

Apr 23, 2022, at 12:38 am

State-owned lender Bank of Baroda announced a reduction in home loan interest rates from 6.75 to 6.50 percent for a limited period.

Union Bank of India cuts home loan interest rate to all time low of 6.40 pc

Oct 28, 2021, at 04:08 am

Kolkata/IBNS: Union Bank of India today announced reduction in its Home Loan interest rates with minimum rate of Interest now starting at 6.40 percent. The reduced rate will be effective from October, 27.

Bank of India reduces Home Loan and Vehicle loan rates

Oct 19, 2021, at 03:55 pm

New Delhi/Kolkata: As a part of festive offer, Bank of India, one of the premier nationalised Bank has announced a 35 basis point reduction in its Home Loan interest rates and a 50 basis points reduction in Vehicle Loan interest rates with the minimum rate now starting at 6.50 per cent against 6.85 per cent on Home Loans and 6.85 per cent against 7.35 per cent earlier on Vehicle Loans.

5 Things to Consider before Opting for a Home Loan Balance Transfer

Sep 10, 2021, at 05:47 pm

A home loan balance transfer becomes necessary when you are unsatisfied with the home loan interest rate your current lender offers. It is also a smart alternative if you require a top-up loan as well.

Get Instant Digital Home Loan Sanction Letter with Bajaj Finserv

Feb 09, 2021, at 12:46 am

The popularity of online banking and transactions has paved the way for accelerated growth of fintech companies. The fast-paced lifestyle of most individuals is a major proponent for such online service providers. Among the services offered by fintech organisations, alongside online credit disbursal facilities, digital home loan sanction letter issuance has also gained ground in recent years. Bajaj Finserv is one such HFC, which has incorporated such digitisation seamlessly into its financial products.

Paying High Interest on Home loan? Here is How to Reduce Your EMI

Jan 23, 2021, at 01:26 am

India’s lendingmarket is enjoying a 15-year low home loan interest rates, thanks to multiple repo rate cuts introduced in 2020. Some lenders are offering such housing credit at rates lower than 7% per annum.

Here’s everything you need to know for taking an Instant Personal Loan

Apr 01, 2020, at 11:52 am

While keeping aside a small portion of your savings for unplanned and unannounced financial emergencies may seem like good practice, many times, the majority of us aren’t prepared for such situations. Thankfully, there are many financial options available in the market like an instant personal loan that you can consider at such times.

Five Benefits of Taking a Home Loan

Mar 31, 2020, at 11:14 am

Being a homeowner calls for a continued commitment towards the improvisation, renovation and modernization of home. Such quality maintenance not only improves the aesthetic appeal of the apartment but increases the value of the property as an asset. Listed below are five ideas for getting a budget for apartment modernization.

How To Check Names in Pradhan Mantri Awas Yojana (PMAY) List?

Nov 05, 2019, at 09:17 pm

Have you heard about the Pradhan Mantri Awas Yojana (PMAY)? It is a Central Government scheme which was launched in India in June 2015.

What arethe Effective Ways to Reduce Home Loan EMI?

Oct 24, 2019, at 01:19 pm

The housing credit sector in India is rising at a compound annual growth rate (CAGR) of 18%. The key reason behind this growth is the easy availability of affordable homes all across the country with schemes like the Pradhan Mantri Awas Yojana (PMAY).

In the Market for a New Place to Call Your Home? Here Are 5 Crucial Mistakes to Avoid

Jul 24, 2019, at 01:54 pm

When it's time to upgrade or downsize to a new home, it can be one of the most exciting times when you and your family get to start this new chapter of your life. However, while exciting, it can also be very stressful, especially when there's so much to think about, and the chances of making a mistake can be high. However, if you're aware of what the common mistakes are, you can actively avoid them, overall ensuring you're giving yourself the very best experience possible. Today, we're going to explore five of the most common mistakes that can be made, detailing everything you need to know to give yourself the best experience!

A Few Factors You should Consider at the Time of Transferring Home Loan

May 25, 2019, at 12:15 pm

A home loan is a long-term commitment, as its repayment spans decades. Therefore, to make sure the task on hand is as convenient as possible, it’s important to keep a track of interest rates that competitors are offering all through the tenor, as you can apply for a home loan balance transfer if need be and make the loan more affordable even once you begin repayment.

After RBI repo rate slash, State Bank cuts home loan interest by 5 basis points

Feb 08, 2019, at 11:08 pm

New Delhi, Feb 8 (IBNS): State Bank of India on Friday announced a decrease in interest by 5 basis points on home loans up to Rs 30 lakh.

Buying a home in today’s market is risk free if you are careful

Dec 14, 2018, at 02:06 pm

Laxman Jaiswal, Chairman & Managing Director of Ascon Infrastructure India Ltd, a company which has completed several housing projects in Kolkata, including Rajarhat-New Town, gives tips on how to buy a new property during a conversation with Subhojit Roy, co-founder Connections PR.   

Impact of Pradhan Mantri Awas Yojana on The Real Estate Sector in India

Sep 18, 2018, at 12:07 pm

Home loans up to Rs.12 lakh qualify for interest subsidy Incentivizes developers to look beyond the affluent customer segment Private equity real estate firms have invested as much as USD 6.1 billion in the country Housing sector can now avail institutional funding at better terms and conditions

Rising Home Loan Rates: How Home Loan Transfer can Help You

Aug 10, 2018, at 01:40 pm

Want to pay a lower rate on your existing home loan? You can opt for the home loan balance transfer facility online now.

Should You Go for Term Insurance After 40?

Jan 10, 2018, at 06:13 pm

Certainly, you should go for term insurance after 40. As your retirement age is far (considering 60 as retirement age) and your family is financially dependent on you, so it is essential to purchase the term insurance even if you have celebrated your 40th birthday. Though you would have to pay a higher premium than a younger person, the cost of the insurance is nothing in front of the financial support which your family will get in your absence.

‘Acche Din’ For Home Loan Borrowers - Grab Low Home Loan Interest Rate From Bajaj Finserv!

Nov 25, 2017, at 03:29 am

It’s time to rejoice if you happen to be a home loan aspirant! Yes, you can grab a home loan interest rate as low as 8.30% from Bajaj Finserv, a pioneer financial company in India. Know more now!