Taking a loan against property (LAP) is an excellent way to leverage your real estate asset to get the required funds. By pledging your property as collateral with a financial institution, you can avail credit at generally lower interest rates compared to unsecured loans. With multiple LAP options available in the market, you can easily choose one that best suits your requirements. In this guide, we will explore the different types of loans against property, eligibility parameters, and more.
The State Bank of India (SBI) recently announced an increase in the marginal cost of funds-based lending rate (MCLR) on select tenures, making consumer loans more expensive for borrowers. This decision comes after the Reserve Bank of India (RBI) decided to maintain the repo rate at 6.5% for the fifth consecutive time.
Are you looking for a flexible and cost-effective way to manage your home loan? Consider the option of a home loan with an overdraft facility. This innovative financial tool allows borrowers to park additional funds in a linked account, offsetting the interest payable on the outstanding loan amount. In this article, we will explore the concept of a home loan overdraft facility, including eligibility criteria, required documents, interest rates, and how to apply for this beneficial feature.
In a move signaling robust economic collaboration, Abu Dhabi is poised to inject a staggering $50 billion into India, further fortifying the ties between the two nations. This substantial investment is not only a testament to India's burgeoning economic landscape but also reflects Abu Dhabi's confidence in the country's potential for growth. In this blog, we will explore the intricacies of this strategic investment plan, its potential impact on India's various sectors, and what it signifies for the broader economic landscape.
The International Financial Services Centre Authority (IFSCA) has announced that two major Japanese banks are set to establish operations in the Gujarat International Finance Tec-City (GIFT City). This move is expected to significantly enhance the financial ecosystem and further strengthen the ties between Japan and India. The decision comes as a result of the Indian government's efforts to promote foreign investments and establish GIFT City as a global financial hub.
In a move to address the high growth in unsecured lending, the Reserve Bank of India (RBI) has recently announced a tightening of norms for consumer loans. The central bank has instructed commercial banks and non-banking financial companies (NBFCs) to increase the risk weights for consumer credit exposure, aiming to ensure robust risk management and stronger underwriting standards. This article will delve into the details of the RBI's new regulations and their implications for the lending industry.
Unsecured loans have become a hot topic among investors and regulators alike. These loans are granted without the backing of collateral and are based solely on the borrower's creditworthiness. While they pose risks to both borrowers and lenders, banks are still eager to sanction them due to the potential profitability they offer. In this article, we will explore what unsecured loans are, who can take them, the typical loan sizes, the reasons behind banks' willingness to lend, and the potential benefits and drawbacks for borrowers.
Purchasing a home is a significant milestone in most people's lives. It not only fulfills a basic human need for shelter but also represents a substantial financial commitment. For many, the path to homeownership is made possible through home loans. In this blog, we'll delve into the importance and advantages of home loans, and why they have become a popular choice for acquiring one's dream home.
India's goods and services tax (GST) collections have witnessed a significant growth of 11% in the month of August. The collections amounted to approximately Rs 1.59 lakh crore, marking a positive trend in the country's economic landscape. This surge in GST collections is a testament to the improved compliance and increased consumer spending. In this article, we will delve into the details of this development, analyze its implications, and explore the factors contributing to this growth.
The Reserve Bank of India (RBI) has recently introduced new rules that can potentially save home loan borrowers a significant amount of money in interest payments. Traditionally, when the interest rates increase, banks would extend the tenure of the loan to protect borrowers from rising equated monthly installments (EMIs). However, this extension often leads to higher overall interest payments and longer durations of debt for borrowers. To address this issue, the RBI has mandated lenders to provide borrowers with options to either increase the EMI, extend the loan tenure, or use a combination of both when resetting interest rates on home loans. In this article, we will explore the new RBI rules and how they can benefit home loan borrowers.
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