Tag: Home Loan

Home Loan

Navigating the Home Loan Journey: Step-by-Step Process

Securing a home loan is a crucial milestone in the journey of homeownership. However, the process can be daunting, with numerous steps and requirements to fulfil. To ensure a smooth and successful experience, it is essential to understand the step-by-step procedure involved in applying for a home loan.  This comprehensive guide will help a borrower through each stage of the process of home loan, from … Continue reading Navigating the Home Loan Journey: Step-by-Step Process

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Home Loan, home loan balance transfer

Streamlining Home Loan Balance Transfers: A Step-by-Step Process

A few years ago, the Reserve Bank of India came up with a new mandate: home loan borrowers on floating interest rates can now foreclose their loan at any point during their home loan tenor without paying any penalty. This has made it possible for home loan borrowers to transfer the remaining balance on their home loan to another lender if they find a lender … Continue reading Streamlining Home Loan Balance Transfers: A Step-by-Step Process

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Home Loan

In a Few Steps, Determine Your Eligibility for a Home Loan

These days, it is impossible to buy a home without taking a home loan. Property prices have increased drastically over the last few years and it is impossible for people to buy a house solely with their savings. Further, people are also growing more and more comfortable with the concept on loans. Most people have multiple loans and do not find it difficult to repay … Continue reading In a Few Steps, Determine Your Eligibility for a Home Loan

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Home Loan

Ensuring a Smooth Home Loan Verification Process: Key Steps to Follow

Home loans are big-ticket loans. The ticket size can range from a few lakhs to a few crores. In other words, home loans involve a hefty amount and therefore, lenders sanction them very carefully. Loan applications from only those individuals meet with approval who meet all the home loan eligibility criteria. Further, lenders release the final loan sanction letter and the loan agreement only after … Continue reading Ensuring a Smooth Home Loan Verification Process: Key Steps to Follow

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cibil score

Securing Your Future: The CIBIL Score for Home Loan Approval

Homeownership is one of the top life goals for the majority of Indians. A home is not just an asset that is sure to bring great returns in the future but it also brings along with itself a sense of stability and security. Further, over the last few years, with demand exceeding supply, landlords have become quite unpredictable. They increase rent as and when they … Continue reading Securing Your Future: The CIBIL Score for Home Loan Approval

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Home Loan

How Prime Lending Rate (PLR) Impacts Your Home Loan Interest Rates

You are planning to buy a home. You have done your research, decided the lender you wish to avail yourself of a home loan from and saved enough to easily be able to clear the down payment. You now approach your preferred lender and are surprised to learn that they plan to charge you a home loan interest rate much higher than you imagined. You … Continue reading How Prime Lending Rate (PLR) Impacts Your Home Loan Interest Rates

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home loan balance transfer

Should you Choose a Home Loan Balance Transfer to Maximise your Savings?

Home loan balance transfer refers to a facility through which the existing balance of a home loan can be transferred to another lender offering a lower interest rate. This can effectively reduce the overall monthly repayments and total payable interest. However, it is not so simple. There are several things to consider before the borrower chooses a loan transfer. This article aims to shed light … Continue reading Should you Choose a Home Loan Balance Transfer to Maximise your Savings?

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Home Loan

Stay Informed: Today’s Repo Rate and Its Impact on Loans

Repo rate is the rate at which the Reserve Bank of India lends credit to all commercial banks against their treasury bills. The Monetary Policy Committee decides the rate every two months. The repo rate today stands at 6.50% after an increase of 25 basis points from 6.25% on June 8, 2023. The RBI repo rate and the rate of interest charged on various loans offered by … Continue reading Stay Informed: Today’s Repo Rate and Its Impact on Loans

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home-loans
Home Loan

NBFC vs. Banks: Unraveling the Key Differences

When it comes to investment, savings, or borrowing of funds, the two major financial institutions people look up to are banks and Non-Banking Financial Company (NBFCs). Both institutions are involved with the loan business and the acquisition of stocks/shares/bonds/securities/debentures issued by the Government of India. However, a comparison between the two reveals major differences in their features. This article explores NBFC and bank difference, so … Continue reading NBFC vs. Banks: Unraveling the Key Differences

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cibil score

A Comprehensive Guide to Checking Your CIBIL Score Using Your PAN Card

The CIBIL Score is a three-digit number between 300 and 900 that all lenders check before approving a loan application from a borrower. They check the CIBIL score as it gives borrowers an idea about the loan applicant’s creditworthiness and repayment capacity. The CIBIL history is calculated based on five factors: repayment history, credit utilization ratio, age of credit history, credit mix and dependency on … Continue reading A Comprehensive Guide to Checking Your CIBIL Score Using Your PAN Card

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