ICICI-(Industrial Credit and Investment Corporation Of India) Home Loan, India has become one of India's biggest Home Loans providers. Along with housing loans at attractive interest rates, ICICI Home finance even provides insurance for the loan at a low premium amount. ICICI housing finance has a wide range of options for its esteemed customers to choose from like Adjustable Rate Home, Fixed Rate Home Loan, Part fixed & Part Floating Rate Home Loan, Smartfix Home Loan and Money Saver Home Loan. Besides these, ICICI Bank also provides Land Loans, Office Premises Rooms, Home Improvement Loan as well as Home Loan for NRI. ICICI Home Loan, India facilitates its customers with the option of Loan against Property, Property Overdraft or Lease Rental Discounting.
To avail the benefits of the above mentioned ICICI Housing Loans all you require is to be of more than 20 years of age and be employed/self employed and lastly, the loan must be repaid before your retirement or 65 years of age, whichever is earlier. ICICI Bank Housing Loan also provides other facilities for its customer's convenience like service at doorstop, free personal accident Insurance along with simplified & easy to understand documentation. ICICI Home Loan is sanctioned even without selecting a property beforehand. Other than this ICICI Bank also gives the provision of home improvement Loans for up to Rs. 50 Lacs or up to 70% of the cost for a period of 15 years. Indiahousing.com acknowledges the importance of ICICI Home Loan, India and appreciates their contribution towards the growth of Real Estate industry and provides the following link to get further information on the interest rate of different home loans:
Website:http://www.icicibank.com
Wednesday, January 16, 2008
Home Loans in Pune
Home loans in Pune are considered as a lifeline for the people buying a house in the city. Not just the real estate prices but also the construction and renovation prices of your house have also gone up. This has prompted the banks to come up with home renovation loans and also home construction loans . Alongside these products you also fins housing loans against real estate mortgage in Pune that also includes the reverse mortgage system.
The local housing market in Pune puts up numerous housing loans for the customers at low interest rates. Cheap home loans packages and affordable EMI payment system rules the market. The home loan interest rates can be fixed, flexible, monthly resting, yearly resting or floating type. Refer to a home loan expert to get the best deal as they can guide you about the most suited product for you since they know the local Pune housing market inside out.
Just go to your nearest bank and get complete info on the house loans available. Ever since the simplification of the loan processing, the house loans are available in matter of hours as opposed to days and even weeks of time earlier. Once the eligibility criteria are met and the verified documents submitted, the loan disbursement does not take much time and a home in the beautiful city of Pune is yours.
Your can also refer to the banks listed below for customized housing loan products.
courstey : Indiahousing
The local housing market in Pune puts up numerous housing loans for the customers at low interest rates. Cheap home loans packages and affordable EMI payment system rules the market. The home loan interest rates can be fixed, flexible, monthly resting, yearly resting or floating type. Refer to a home loan expert to get the best deal as they can guide you about the most suited product for you since they know the local Pune housing market inside out.
Just go to your nearest bank and get complete info on the house loans available. Ever since the simplification of the loan processing, the house loans are available in matter of hours as opposed to days and even weeks of time earlier. Once the eligibility criteria are met and the verified documents submitted, the loan disbursement does not take much time and a home in the beautiful city of Pune is yours.
Your can also refer to the banks listed below for customized housing loan products.
courstey : Indiahousing
Tuesday, January 8, 2008
Home, consumer loans may be cheaper in new year 2008
Home, consumer loans may be cheaper in new year
The New Year is likely to bring in good news for borrowers as interest rates on home and consumer loans could decline from the second quarter onward, but high fuel and food prices might play spoilsport by putting pressure on inflation, bankers and economists feel.
Experts feel that interest rates have peaked and with deposit rates on the decline, consumers could see softening of interest rates in 2008 as the prudent stance of Reserve Bank for almost the whole of last year managed to keep inflation low without disrupting economic growth.
“Our margins were a bit strained during the year but now banks have begun reducing deposit rates. With RBI’s objective to keep inflation close to three per cent in the medium term, interest rates are bound to come down,” Union Bank of India Chairman and Managing Director M V Nair said.
Yes Bank Managing Director & CEO Rana Kapoor also felt a 0.5 per cent reduction in interest rates was in the offing.
“We see no decline in interest rates in the next three months. RBI is not likely to reduce rates in January but in the next fiscal starting April, there could be a reduction of half a per cent,” he said.
Reserve Bank has raised key interest rates six times in the past year-and-a-half. It has also raised banks’ mandatory cash deposits or Cash Reserve Ratio by 2.5 per cent since December 2006 to 7.5 per cent for tightening liquidity as part of steps to keep inflation within limits.
Banks also raised interest rates on home, vehicle and personal loans in line with these measures. At present, floating home loan interest rates range from 10-11.5 per cent, while fixed rates are two-three percentage points higher. MORE PTI NAP DP AMA UPD 01011544 DEL dm.ashok.dc: I tried my best to put myself across.
Courtesy : financialexpress
The New Year is likely to bring in good news for borrowers as interest rates on home and consumer loans could decline from the second quarter onward, but high fuel and food prices might play spoilsport by putting pressure on inflation, bankers and economists feel.
Experts feel that interest rates have peaked and with deposit rates on the decline, consumers could see softening of interest rates in 2008 as the prudent stance of Reserve Bank for almost the whole of last year managed to keep inflation low without disrupting economic growth.
“Our margins were a bit strained during the year but now banks have begun reducing deposit rates. With RBI’s objective to keep inflation close to three per cent in the medium term, interest rates are bound to come down,” Union Bank of India Chairman and Managing Director M V Nair said.
Yes Bank Managing Director & CEO Rana Kapoor also felt a 0.5 per cent reduction in interest rates was in the offing.
“We see no decline in interest rates in the next three months. RBI is not likely to reduce rates in January but in the next fiscal starting April, there could be a reduction of half a per cent,” he said.
Reserve Bank has raised key interest rates six times in the past year-and-a-half. It has also raised banks’ mandatory cash deposits or Cash Reserve Ratio by 2.5 per cent since December 2006 to 7.5 per cent for tightening liquidity as part of steps to keep inflation within limits.
Banks also raised interest rates on home, vehicle and personal loans in line with these measures. At present, floating home loan interest rates range from 10-11.5 per cent, while fixed rates are two-three percentage points higher. MORE PTI NAP DP AMA UPD 01011544 DEL dm.ashok.dc: I tried my best to put myself across.
Courtesy : financialexpress
Are fixed rate home loans really fixed?
Once you decide to avail a home loan, the next thing that storms your brain is choosing between fixed and floating rate of interest. And here is where you are caught in a catch 22 situation.
Usually, when news media splashes reports on banks increasing home loan interest rates in India and their impact on Equated Monthly Installment (EMI), you deem it better to opt for fixed home loan rate. In fact, your banker may also advise you to go for the same.
Now ideally as it should be, we assume that once you select fixed rate plan for yourself the rate of interest will remain unchanged over the entire tenure of the repayment period irrespective of any subsequent increase in the same. But actually this is not the case.
Here we demystify the nature of fixed interest rate housing loan transaction for you so that you could make an informed decision over the matter.
All the banks include the reset clause on fixed interest rate in their home purchase loan agreement papers. So if you had taken the loan @ 10.5 per cent for 15 years it does not mean that the same rate will be applicable all across the period.
India’s largest public sector bank State Bank of India (SBI) has introduced a clause as per which it has right to revise the fixed rate home loan after two years. Similarly, Canara Bank and Corporation Bank also have similar provisions to revise the rates after 5-years of disbursing the loan.
Private sector banks and Non Banking Financial Corporations (NBFCs) are also following the same policies and the rates too are revised from time to time.
Force Majeure Clause
So, while you read your home loan agreement papers, you can spot statement like this:
“Provided further that from time to time, the bank may in its sole discretion alter the rate of interest suitably and prospectively on account of change in the internal policies or if unforeseen or extraordinary changes in the money market conditions take place during the period of the agreement.”
This is called Force Majeure Clause that enables the lender to undertake appropriate modifications in the interest rates on home loans they sanction to their borrowers
Courtesy : guide2homeloan.
Usually, when news media splashes reports on banks increasing home loan interest rates in India and their impact on Equated Monthly Installment (EMI), you deem it better to opt for fixed home loan rate. In fact, your banker may also advise you to go for the same.
Now ideally as it should be, we assume that once you select fixed rate plan for yourself the rate of interest will remain unchanged over the entire tenure of the repayment period irrespective of any subsequent increase in the same. But actually this is not the case.
Here we demystify the nature of fixed interest rate housing loan transaction for you so that you could make an informed decision over the matter.
All the banks include the reset clause on fixed interest rate in their home purchase loan agreement papers. So if you had taken the loan @ 10.5 per cent for 15 years it does not mean that the same rate will be applicable all across the period.
India’s largest public sector bank State Bank of India (SBI) has introduced a clause as per which it has right to revise the fixed rate home loan after two years. Similarly, Canara Bank and Corporation Bank also have similar provisions to revise the rates after 5-years of disbursing the loan.
Private sector banks and Non Banking Financial Corporations (NBFCs) are also following the same policies and the rates too are revised from time to time.
Force Majeure Clause
So, while you read your home loan agreement papers, you can spot statement like this:
“Provided further that from time to time, the bank may in its sole discretion alter the rate of interest suitably and prospectively on account of change in the internal policies or if unforeseen or extraordinary changes in the money market conditions take place during the period of the agreement.”
This is called Force Majeure Clause that enables the lender to undertake appropriate modifications in the interest rates on home loans they sanction to their borrowers
Courtesy : guide2homeloan.
Monday, December 24, 2007
Home Loan for India
HDFC - Housing Development Finance Corporation Limited (HDFC) - Offering range of services like Home Loans, Housing Loans and Home Loans in India.
Visit to: www.hdfc.com/ - 99k
guide2homeloan-
guide2homeloan.com is the right online source for all your home loan needs. Feel free to contact us for any other queries related to home loans, finance, insurance and investment.
Visit to: http://www.guide2homeloan.com/
HSBC-
Home Loan - Flexible enough to suit your changing needs.
www.hsbc.co.in/1/2/personal/loans/home-loan
STATE BANK OF INDIA :: INDIA's LARGEST BANK-
SBI Home Loans come to you on the solid foundation of trust and transparency built in the tradition of State Bank of India. Best Practices followed in SBI ...
Visit to:
www.statebankofindia.com/viewsection.jsp?id=0,1,20,115 - 70k
MORE MORE .......
Visit to: www.hdfc.com/ - 99k
guide2homeloan-
guide2homeloan.com is the right online source for all your home loan needs. Feel free to contact us for any other queries related to home loans, finance, insurance and investment.
Visit to: http://www.guide2homeloan.com/
HSBC-
Home Loan - Flexible enough to suit your changing needs.
www.hsbc.co.in/1/2/personal/loans/home-loan
STATE BANK OF INDIA :: INDIA's LARGEST BANK-
SBI Home Loans come to you on the solid foundation of trust and transparency built in the tradition of State Bank of India. Best Practices followed in SBI ...
Visit to:
www.statebankofindia.com/viewsection.jsp?id=0,1,20,115 - 70k
MORE MORE .......
History BankofIndia
Bank of India was founded on 7th September, 1906 by a group of eminent businessmen from Mumbai. The Bank was under private ownership and control till July 1969 when it was nationalised along with 13 other banks.
Beginning with one office in Mumbai, with a paid-up capital of Rs.50 lakh and 50 employees, the Bank has made a rapid growth over the years and blossomed into a mighty institution with a strong national presence and sizable international operations. In business volume, the Bank occupies a premier position among the nationalised banks.
The Bank has 2644 branches in India spread over all states/ union territories including 93 specialised branches. These branches are controlled through 48 Zonal Offices . There are 24 branches/ offices (including three representative offices) abroad.
The Bank came out with its maiden public issue in 1997. Total number of shareholders as on 30/09/2006 is 2,25,704.
While firmly adhering to a policy of prudence and caution, the Bank has been in the forefront of introducing various innovative services and systems. Business has been conducted with the successful blend of traditional values and ethics and the most modern infrastructure. The Bank has been the first among the nationalised banks to establish a fully computerised branch and ATM facility at the Mahalaxmi Branch at Mumbai way back in 1989. The Bank is also a Founder Member of SWIFT in India. It pioneered the introduction of the Health Code System in 1982, for evaluating/ rating its credit portfolio.
The Bank's association with the capital market goes back to 1921 when it entered into an agreement with the Bombay Stock Exchange (BSE) to manage the BSE Clearing House. It is an association that has blossomed into a joint venture with BSE, called the BOI Shareholding Ltd. to extend depository services to the stock broking community. Bank of India was the first Indian Bank to open a branch outside the country, at London, in 1946, and also the first to open a branch in Europe, Paris in 1974. The Bank has sizable presence abroad, with a network of 23 branches (including three representative office ) at key banking and financial centres viz. London, Newyork,Paris,Tokyo,Hong-Kong,and Singapore. The international business accounts for around 20.10% of Bank's total business
Beginning with one office in Mumbai, with a paid-up capital of Rs.50 lakh and 50 employees, the Bank has made a rapid growth over the years and blossomed into a mighty institution with a strong national presence and sizable international operations. In business volume, the Bank occupies a premier position among the nationalised banks.
The Bank has 2644 branches in India spread over all states/ union territories including 93 specialised branches. These branches are controlled through 48 Zonal Offices . There are 24 branches/ offices (including three representative offices) abroad.
The Bank came out with its maiden public issue in 1997. Total number of shareholders as on 30/09/2006 is 2,25,704.
While firmly adhering to a policy of prudence and caution, the Bank has been in the forefront of introducing various innovative services and systems. Business has been conducted with the successful blend of traditional values and ethics and the most modern infrastructure. The Bank has been the first among the nationalised banks to establish a fully computerised branch and ATM facility at the Mahalaxmi Branch at Mumbai way back in 1989. The Bank is also a Founder Member of SWIFT in India. It pioneered the introduction of the Health Code System in 1982, for evaluating/ rating its credit portfolio.
The Bank's association with the capital market goes back to 1921 when it entered into an agreement with the Bombay Stock Exchange (BSE) to manage the BSE Clearing House. It is an association that has blossomed into a joint venture with BSE, called the BOI Shareholding Ltd. to extend depository services to the stock broking community. Bank of India was the first Indian Bank to open a branch outside the country, at London, in 1946, and also the first to open a branch in Europe, Paris in 1974. The Bank has sizable presence abroad, with a network of 23 branches (including three representative office ) at key banking and financial centres viz. London, Newyork,Paris,Tokyo,Hong-Kong,and Singapore. The international business accounts for around 20.10% of Bank's total business
Tuesday, December 18, 2007
Interest rates
Interest rates to rise again by atleast 1.5% by Dec., 2007
After falling to a 15 year low of about 7.0% p.a. home loan interest rates are on the rise again.The rate on the Benchmark 10 year "Floating rate" home loan is currently about 11% and is expected to touch about 12.5% p.a. by the end of 2007. Fixed rate loans would continue to quote at about 1.5% above the rate on a floating rate loan.
Go for Fixed rate home loans only and protect against a rising EMI
Some new schemes:
Axis Bank : Offers Free Property and Personal Accident Insurance with Home loan
Bank of Baroda : Offers No processing fees for Home Loan and Take over
HDFC : Offers a Choice to choose your loan as Partly Fixed or Partly Floating.
ICICI : Offers Free Personal Accident Insurance with Home loan
Kotak Bank : Offers Free Personal Accident cover with Home Loan.
SBI : Provision to finance cost of furnishing and Consumer durables as part of project cost
Standard chartered Bank : It offers home loans with NO Gurantor
After falling to a 15 year low of about 7.0% p.a. home loan interest rates are on the rise again.The rate on the Benchmark 10 year "Floating rate" home loan is currently about 11% and is expected to touch about 12.5% p.a. by the end of 2007. Fixed rate loans would continue to quote at about 1.5% above the rate on a floating rate loan.
Go for Fixed rate home loans only and protect against a rising EMI
Some new schemes:
Axis Bank : Offers Free Property and Personal Accident Insurance with Home loan
Bank of Baroda : Offers No processing fees for Home Loan and Take over
HDFC : Offers a Choice to choose your loan as Partly Fixed or Partly Floating.
ICICI : Offers Free Personal Accident Insurance with Home loan
Kotak Bank : Offers Free Personal Accident cover with Home Loan.
SBI : Provision to finance cost of furnishing and Consumer durables as part of project cost
Standard chartered Bank : It offers home loans with NO Gurantor
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