Home Loans

Dena Bank Reduces Interest Rate on Home LoansFounded in 1938 by the family of Devkaran Nanjee, Dena Bank is now a public-sector bank constituted under the Banking Companies Act 1970. It has emerged as the most preferred Bank of customer choice in its area of operation.Following State Bank of India, Dena Bank too slashed interest rates on home loans to woo customers. Read on to know what prompted the bank to lower interest rates on

Retired? Not to worry, you can still get a home loanThe biggest worry that employees on the verge of retirement would be the worry of not being able to spend their retired life in a peaceful house of their own, without having to face the hassles of a rented place. If this is one of your worries, then this article is for you!As a Government employee or an employee of any reputed company that offers living quarters to their employees, you might not have worried about a plac

Tax benefits on home loansOwning a home is a dream that every person has. Nowadays the trend is owning a home by applying home loans for either buying a new home, construction, reconstruction or renovation of a property. Apart from knowing your credit score, choosing the best loan with best interest rates, it is also important to know the tax benefits a person gets on home loans.This article is for people who are looki

Self Employed? Here is how you can get a home loan.Majority of the work force in our country are self-employed and we admire the people who possess the acumen for entrepreneurship. But when it comes to applying for a home loan, self-employed professionals do not have it easy. They must go through several tiresome documentation processes when compared to salaried employees.The main concern for the bankers and lenders is the consistency and stability of the business owned b

Housing for All - The Pradhan Mantri Awas YojanaA Vision to make housing, affordableMore than half the world's population now reside in cities, and with cities getting more congested, the pressure on building homes for the urban poor and the middle-income groups is like never before.The Pradhan Mantri Awas Yojana (PMAY) scheme is part of the government's 'Housing for All' initiative and was launched in the year 2015. The aim of this initiative is to provide

What is a Home Equity Loan?Owning a house is the best asset one can possess. A house is an asset which can be used to support various financial needs. For situations like college education fees, house renovation and repairing, medical bill payment or any major requirements, your property can act as a solution. Home Equity Loan allows you to borrow a considerable amount of money against the value of your residence. This is a secured loan as the lender can get back the loan

Income Tax deduction for interest on Home LoanBuying a house is a dream for most Indians and if it happens to be your first home, it makes it more special. Affordable housing and home loans have helped many Indians realise their dreams of owning a house.There are other schemes through which first home buyers can benefit such as section 80E allows tax benefits for first time buyers. The interest paid for home loans can be claimed till the entire home loan amount is repaid

Home Improvement Loan Interest RateIt is rightly said that there is no place like home! Your home is truly your castle, but even the best of castles occasionally need some renovation and remodeling! Are you on the lookout for some funds to perhaps, add a room, construct your very own in-house bar, or build your own little home-theatre? Well, look no further, read on to know more!Why take a home improvement loan?A well-thought-out renovation could possibly he

6 Smart Tips to Get Low Interest Home Loans Are you ready to make one of the largest and most significant financial commitments of your life? Owning a home is not a cakewalk and comes with its own set of responsibilities like paying your EMIs every month without fail for many years, if not decades;  planning your budget every month to accommodate your EMIs; making sure you make all your payments on time and in full every single month. One needs careful financial

Are you ready to make one of the largest and most significant financial investments (a.k.a buying a house) of your life? Owning a home is the aim of almost every Indian, if not the aim of millions the world over. It is a valuable, and usually appreciating, asset. It is one asset that confers mental and emotional security in addition to financial stability as well. In order to fill that huge demand for buying a home, banks and other financial institutions have developed a variety of home loan

Are you planning to buy your dream home? You might have your property selected, your down payment ready, and your finances planned. But have you done enough research on the interest rates you will incur when you take the home loan? Have you done enough home work on which kind of interest suits you best? Here are some pointers on what you should consider when you are evaluating home loan interest rates. What is a home loan and EMI? When a bank or NBFC lends a c

Buying a home is a huge investment - it can’t be emphasized enough. It is a wonderful feeling to be able to own a valuable asset like a house.  For most people in India, it is the main acquisition they will ever make, considering the real estate prices nowadays. Homeownership is something that almost every Indian – urban or rural - dreams of and banks have come up with loans suited for that very purpose!Before you decide on a housing loan, you need to make sure you a

Planning to buy a home? You are probably already imagining the furniture you will buy, where you will have the TV, and enjoying the many delights of setting up a home of your own.  But owning a home also comes with its own set of responsibilities like pay your EMIs every month without fail, and planning your budget every month to accommodate your EMIs. When you actually sit down to research home loans you will find that you are bombarded by an array of very tempting offers being

Buying or building your own home is the ultimate step to being financially ‘settled’ in many countries, including India. While it is a dream for many millions, most do not have the financial wherewithal to buy or own a home on their own. Banks and other lenders have come up with affordable home loan options in order to make this dream into a reality!Am I Eligible? In order to be eligible for a home loan, you need to be• A salaried e

If you dream of owning your own home but wonder if you will be able to ever afford it – worry not! The overwhelming majority of home owners need that extra support of a home loan from to help them fulfill their dream. Owning a home is the ultimate dream of almost everyone and very few have the financial means to achieve it. That is where a home loan can help you.The market is flooded with innumerable home loan offers and it is easy to get confused about which product is the bes

Owning your own home can be a big and impossible dream, but very often that dream does come true. If you are looking for a new home loan, there is a huge array of possibilities available in the market. You will need to look at the interest rates, the loan amount you are eligible for, and the tenure of the loans on offer and compare the benefits and features. Once you identify a property, finding a suitable home loan to enable you to buy it should not be a problem. What are the

If you are in need of a significant amount of money and own property, then a Loan Against Property is an attractive, and relatively reasonable, credit option to consider. People often view a property as being of value only in bringing in rental income or selling at an appreciated price. It is often overlooked as an asset when raising funds for business or personal expenses. If you are in need of substantial funds, you can unlock the dormant potential of your property and raise funds at a rela

A Loan Against Property is exactly what its name suggests – it is a loan where the bank or NBFC (Non-Banking Financial Company) lends you money and holds your property as security until the loan is repaid. Of course, the loan approval is dependent on the property eligibility, among other factors.  Once you repay the loan in full, you regain possession of the property. In case you fail to repay the loan, the lender can attach the property and dispose of it to recover the unpaid dues

It is not an exaggeration to say that one of the goals common to people across the world is to own a home. However, for most people, buying a home automatically means having to get a home loan to help them finance the huge cost. In India too, buying a house of your own is perceived as a much desired sign of stability and security. Fortunately, it has never been easier to borrow money for buying a house and the market is flush with a multitude of loan products and offers to choose from.

Are you in the loan market as a first-time house buyer? Identifying a suitable home and then finding the finances to purchase it can be a new and unfamiliar terrain for most people. Here are some tips on the kind of buyer credit that lenders look for when they review a home loan application.  How can I qualify for a home loan as a first-time house buyer? What do lenders look for? Lenders look at severa

Are you planning to buy your first home? A home is more than an asset. It's a symbol of pride, comfort and accomplishment. Buying a property that they can call their own is the dream of millions of middle-class Indians all over the country.