Get Cheap Home Loan In Mumbai

MUMBAI: HDFC, the country’s largest housing finance company, has increased home loan rates by up to 20 basis points (100bps = 1 percentage point). It said the revision follows an increase in the cost of funds from last year. Most of the bank’s customers would be affected only marginally. Interest rates on loans up to Rs 30 lakh have been increased by only 5bps to 8.4% from 8.35% for women borrowers. For others in this category, the rate is 8.45% as against 8.4% earlier. HDFC’s average loan size is around...

Major banks and housing finance companies have raised their lending rates. Whenever home loan rates are hiked, borrowers want to know whether they should prepay their loans to save on interest. In the past, there was no clear answer because there were several investment opportunities that could yield better returns than the interest paid on the home loan. Not any longer. Stock markets are looking jittery, fixed deposits are tax-inefficient and debt funds are giving poor returns. If a penny saved is a penny earned, prepaying a home loan may...

Leading Banks and NBFCs have reduced home loan interest rate for loan upto Rs. 30 lakh to assist Central Government’s mission of affordable housing. Major lending institutions such as SBI, HDFC, ICICI, Axis & India Bulls have reduced rate of interest on Home Loans. Presently, lenders are emphasizing to encourage salaried women borrowers to buy their dream home. Currently, the reduction in home loan interest rate will help salaried women borrowers to get home loan upto Rs. 30 lakh @8.35%. Whereas, other salaried borrowers can avail the home loan upto...

Calculating EMI with Mathematical Formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1] P stands for Loan Amount R stands for Interest rate per month [(if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)] N stands for total number of Monthly Instalments OR You can simply click here to calculate EMI on your Home Loan EMIs, or Equated Monthly Instalments consists of Principal amount of the Home Loan with Interest rate applicable on that loan’s outstanding amount. Borrowers need to evaluate their...

Applying for a home loan in the city of Mumbai is both a stressful time in life and an exciting time. The idea of owning a home for the first time, buying a larger home, or just moving to a new place can bring on an array of blissful emotions. Whether you are buying for yourself or your family, there are certain issues that need to be sorted out whether you are stressed or excited. Contact the lender today and get started with the long list of paperwork that must...

For most of us, taking a home loan becomes necessary at least once in a lifetime. More often than not, the saved up money that you have struggled to earmark for buying your dream house, is never enough. Once you have set your eye on a suitable house, you go about doing your research for home loans by browsing online, asking peers and talking to counsellors. The best advice that you can get regarding home loans is not through the bank. It is through a loan counsellor. In a bank,...