Tax Exemptions on Home Improvement Loans
Introduction In this article I will be writing about the tax exemptions for the home improvement loans. I have written many articles related to the home loans and income tax benefits. There are two sections talking about the home loans and tax exemptions related topics. One is Section 80c (Home Loans Principal Payment) and another [...]
What is Reverse Mortgage?
Introduction In this article I will be writing about the Reverse Mortgage and how it can help you in the retirement. This product is has low awareness among the public. Nowadays few banks started making awareness to the public to sell the reverse mortgage products. This article explains the basic concepts on reverse mortgage. If [...]
Implementation of base rates from July 1,2010
RBI had announced the base rate system which will set the interest rates for the bankers to lend their borrowers. Earlier the rate is known as the Prime Lending Rate(PLR) for the banks. Normally the banks can not lend the money below the PLR to avoid any loss or risk. But, banks started offering the [...]
Principal Payment on Home Loans u/s 80C
Introduction In this article I will be writing about the tax exemption for the home loans under section 80c. I will not write about the interest payment on home loans. That is not come under the section 80c. If you are the regular reader for this site, I have written many articles explaining the home [...]
IDBI Bank cuts Home Loans Interest Rates
After the announcement from other major banks like SBI, ICICI and HDFC to reduce the home loans interest rates, now IDBI bank joined the party to reduce the home loans interest rates effective from 16th December, 2009. It is offering 8.25 per cent fixed rate for all its new loans till March 2012. The offer [...]
Kotak Mahindra Bank offers new home loans interest rates
Kotak Manhindra Bank announced a new home loans offer including a loan product at a fixed rate of 8.49% p.a. for 30 months (from the date of disbursement of the loan), and subsequently, the applicable floating rate for the balance term. The applicable rate after 30 months will be the retail prime lending rate (RPLR) [...]
When Refinancing Makes Sense?
When Refinancing Makes Sense? Mortgage Refinancing is a process that involves taking out a new home loan to pay off an existing one. While done for a variety of reasons, refinancing is generally undertaken to reduce the interest rate, extend the term, and/or reduce the risk associated with an existing mortgage loan. The process of refinancing [...]
ICICI Banks Cuts home loans interest rates
India’s major private bank ICICI Bank have entered the interest rate war in the home-loan market with their fixed-cum-floating rate schemes. ICICI Bank has launched a home-loan scheme under which 8.25% interest rate will be fixed for the first two years. The floating rates will apply after 2 years. These rates will be applicable to [...]
SBI Home Loans
Introduction In this article I am writing about the important details about the SBI home loans. Last week I discussed with one of the SBI guy for getting the more details about the SBI home loans interest rates and other information. It is obvious that SBI provides less interest rates compare to other banks. It [...]
Home Loans Interest Rates will be increased!!!
Introduction In this article I am writing about the interest rates increase for the home loans in the coming months. It is expected that there will be rise in the interest rates from this year end. This article explains the reason why rates will be increased and the current situation of home loans industry. If you have [...]
