When interest rates go up, the interest burden of a home loan borrower would go up, and this needs to be compensated either by way of an increase in the tenure of the loan or an increase in the EMI.
Recognising the importance of the housing sector and its multiplier effects, it has been decided to extend the applicability of these guidelines till March 31, 2023, the Governor said.
HDFC continues to have the largest number of home loan customers of over 2.7 lakh, who have availed benefits under the Credit Linked Subsidy Scheme.
“The India real estate market is on an upward cycle which bodes well for all of us. The big star of the real estate sector continues to remain residential housing in India.
The complainant was asked to transfer the loan account to SBI Camp Branch instead of ICICI Bank.
Many individuals who had invested in real estate in NCR post 2014, expecting good returns, are stuck with incomplete projects, delays and poor appreciation of property price.
Customers will be offered up to 20 per cent discount on purchases from select 2,500 local merchants across 50 cities.
Further, it will offer top-up home loans at an attractive rate of interest to existing as well as balance transfer cases.
This special rate of 6.50 per cent is a limited period festive season offer beginning 10th September and ending 8th November 2021, said the private sector lender.
Under the strategic partnership, credit underwriting, processing, and disbursement for all home loans will be handled by LICHFL, while IPPB will source the loans.
There has also been a 20 per cent demand rise for loan against property (LAP) in during the period under review, showed 'Magicbricks Home Loans Consumer Study - H1 2021'.
The COVID-19 pandemic has not only made people realize the importance of having a contingency plan for emergencies, but also changed some other rules of the game.
Fast Track Your Home Loan: Get an Instant Digital Home Loan Sanction Letter with Bajaj Housing Finance
The housing loan segment is expected to estimate arrives amid financial institutions offering competitive interest rates and ramping up their efforts to make housing loans more accessible