Buying a home is life’s greatest joy. But realising this dream and making it a reality are not easy. You have to follow certain procedures carefully. These are not difficult but they require your time and attention. A major component of buying a house is getting a good Home Loan. The housing loan process starts with submitting the required Home Loan documents to your lender. You also have to get the necessary checks done and pay the required fees. Once your loan approval comes through,...
Are multiple savings account worth your time, money, and efforts? A lot of people wonder whether it is worth it or not. On one hand, there are some financial experts who say that one should stick to a single savings account. While others say that having multiple savings accounts for various saving targets are a better choice. You can adopt any of the two pieces of advice to grow your finances. As long as you keep building your wealth, you are okay irrespective of what you choose.
If you have...
There's no better time than now for the prospective home-owners who have been looking to dabble in the real estate market. Regarded as the country's largest lender by assets, State Bank of India (SBI) has announced another steep rate cut following RBI’s fourth consecutive repo rate cut this year. For the uninitiated, the repo rate can be described as the interest rate at which the RBI lends money to commercial banks.
MCLR Cut – August With effect from 10th August 2019, SBI...
Purchasing a house is the dream of many people; however, most of the people are not able to live their dream due to the non-availability of the funds. If you are also falling short of money to get your dream house, then apply for a home loan and get instant funds. Although the home loan rate of interest is quite affordable but it is widely dependent upon various factor. Here are some of the major factors which affect your eligibility for the loan; take a look:-
Age of the applicant –...
Pune is the second largest city in Maharashtra and is considered as the cultural capital of the state. The city is also known for manufacturing, automobile, government and private sector research institutes as well as educational, management and training institutes which in turn attracts students and professionals from across the country. This has led to the growth in the housing sector which means more demand for housing loans in the city. However, the process to apply for a home loan can be a...
A Home Loan is imperative for buying a dream home today; especially with the overload of flexible Home Loan schemes and EMI options for the borrowers in the current market space. While most housing loans are extended with ease of repayment owing to 20-30 years of loan tenure; borrowers must prepay the loan as and when possible, as per their capacity. For, paying the loan faster than the anticipated tenure helps you save enough on the loan interest and eases debt stress to a great...
Today, getting a dream house is incomplete without getting a home loan. Thus, getting an ideal loan is as important as finding an ideal home for you and your family. In a competitive world, there are not less than 50 home loan lenders who are keen on giving home loans to people looking to buy a home seeking these groups. However, the big question that comes into the picture, whom (lender) should you choose for getting your home loan. After all, taking a home loan is announcing a long-term...
Unemployment is one of the biggest evils that our populous country has been grappling with. While the education system is progressing, there is still a large chunk of the population that is still sitting at home unemployed. As per the statistics reported by the Periodic Labor Force Survey, the unemployment rate was close to 5.3% in rural India and about 7.8% in urban India in 2017-18.
Herein it is good to know about certain government loan schemes which the unemployed youth...
Buying a house is the top priority of every individual in India, but due to the high property rates, it is not possible for everyone to buy a house. It involves a huge sum of money to buy a house. With the rising realty rates, people often turn towards Financial Institutions and Non-Banking Financial Companies (NBFCs) for financial aid to buy a house.
When you apply for a Home Loan, you need to plan it well. A loan can only be beneficial if you choose the right combination of the principal...
If you are a salaried individual trying to make both ends meet, having your own house or being the owner of a small property is perhaps a cherished dream. You compare home loans periodically, but that dream for you seems out of reach, even if you are stretching yourself to save up for the down payment of your home someday. This is not because of home loan interest rates but the fact most lenders have rather stringent eligibility criteria for aspiring borrowers. If you have taken a step back...
When it comes to our biggest life achievements, there is one dream that we all share – having a house of our own.
As per the Census 2011, in India, only 69% of urban households own a house. If you fall under that percentage, congratulations to you, and even if you don’t, there’s nothing to worry. With housing finance becoming more affordable at present an introduction of amazing housing schemes by Indian Government such as Pradhan Mantri Awas Yojana (PMAY), you can...
Owning a home or an apartment is everyone’s dream. If you’re planning to take one, take the help of a Home Loan calculator to make your calculations easy.
The easy availability of Home Loans and a low interest rate make it easy for most people to realize their dream of buying a home. However, a Home Loan is a big commitment which needs to be given a lot of thought before availing one. Home Loan calculators might be able to help you make the right choice.
How can the different...
Availing a home loan has become considerably easier over the past few years. However, if one does not understand the monthly outflow of finances that you need to sacrifice in order to pay of your home loan, it can cripple one financially. Also known as Equated Monthly Instalment (EMI), this must be a comfortable amount to spare for a borrower. Although it is an exceptionally valuable asset to own a home, it should not compromise your lifestyle in the process.
Definition of EMI
An acronym for...
Want to apply for a Home Loan, but don’t have much idea of the document required for Housing Loan, eligibility and many more unexpected factors? Let’s provide you a quick bite into the world of Housing Loans.
So, before we jump to the documents required for Home Loan part, won’t it be good if you know something about the Home Loan and things around it? Let’s go!
What is a Home Loan?
A Home Loan is money or the capital or wealth which a bank or a non-banking...
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