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.
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