MUMBAI: Major state-owned banks have begun preliminary discussions to evaluate the potential for offering home loans to individuals lacking traditional income documentation, employer certificates, or tax returns. Unlike standard disbursements under ‘affordable housing’ initiatives, this new approach would assess applicants’ income through unconventional means, such as examining the transaction activity of a street vendor via […]
NEW DELHI: According to RBI data on “Sectoral Deployment of Bank Credit,” credit outstanding to the housing industry increased by around Rs 10 lakh crore over the previous two fiscal years to reach a record Rs 27.23 lakh crore in March of this year. This increase in outstanding home credit was ascribed by real estate […]
BHUBANESWARIn relation to a loan scam of Rs 18.79 crore that was allegedly committed by the accused in Bhubaneswar in 2017, the Enforcement Directorate (ED) on Monday attached properties worth around Rs 19.67 crore belonged to a builder and three former bank officials. The ED began an investigation last year based on three FIRs filed […]
MUMBAI: State Bank of India (SBI) has led the house loan market and will continue to do so, according to Chairman Dinesh Khara, who stated on Friday that the bank’s mortgage book was worth over Rs 6.52 lakh crore as of the June quarter, up about 14% year over year. When reporters questioned him about […]
MUMBAI: According to the Reserve Bank’s most recent Financial Stability Report (FSR), the share of residential home loans in total advances has risen from 8.6% in March 2012 to 14.2% in March 2023. It also said that the housing sector is prospering, with sales growing by 21.6% in the fourth quarter of 2022-23 (January-March). In […]
MUMBAI: LIC Housing Finance, like its peers, raised its lending rate by 0.35 percent. The move, which comes a week after a similar increase by bigger rival HDFC, means that the minimum rate of interest for the best-rated borrower will be revised to 8.65 percent. The company said in a statement that it has raised […]
MUMBAI: The country’s largest lender, State Bank, announced on Wednesday that its home loan book has surpassed Rs 6 lakh crore, making it the industry’s largest. To commemorate the occasion, the bank also announced a holiday promotion for home loan buyers, which includes a 25 basis point discount on interest rates starting at 8.40% and […]
State Bank of India (SBI) has disbursed a record Rs 1.12 lakh crore in loans to individual home buyers through the end of January in FY22, as demand for housing in the hinterland surged, allowing it to leapfrog specialist lenders in the mortgage business. This represents a 20% increase over the same period in FY21. […]
According to a statement issued on Tuesday, India Post Payments Bank (IPPB) has partnered with LIC Housing Financing to market the latter’s housing finance products to its 4.5 crore clients. According to the announcement, IPPB would make LIC Housing Finance Ltd’s (LICHFL) home loan products available to its clients across India through its robust and […]
When searching for a home, home buyers consider the interest rate of the home loan the most. In the last one year, home loan interest rate has come down to a 15-year low of 6.6 per cent. At such low rates, home loan interest rates seem attractive even to a casual observer. Therefore, this may […]
