Loan for personal Home at Low Intrest rate

 LIC Housing Finance and Bajaj Housing Finance on Monday announced a hike in lending rates for home loans by 0.5 percentage points. Home loans to get costlier with hike in lending rates. LIC Housing Finance and Bajaj Housing Finance on Monday announced a hike in lending rates for home loans by 0.5 percentage points. With this hike, the lowest priced product at Bajaj Housing Finance, for the salaried and professional applicants, will be at 7.70 per cent now. Despite the latest hike, the company has claimed to be offering loans at competitive rates. For LIC Housing Finance, the new interest rates on home loans will start from 8 per cent as against 7.5 per cent before the hike. The company’s chief executive officer and managing director Y Viswanatha Gowd maintained that the RBI’s repo rate hike by 0.5 percentage points has caused ‘minimum fluctuations’ in monthly installments or tenure of home loans. He also said that the demand for housing will remain robust. The RBI had raised the...

State Bank of India or SBI, India's biggest lender, increased marginal cost of funds based lending rate or MCLR on loans with effect from today, a move that will make EMIs expensive for those who availed loans benchmarked against the MCLR. The one-year MCLR is considered important from a retail loans perspective, as a bank's long-term loans like home loans are linked to this rate. The SBI one-year MCLR goes up to 7.70%, from 7.50% The overnight to three-month SBI MCLR rate has been hiked to 7.35%, from 7.15%. The SBI six-month MCLR goes up to 7.65% from 7.45%, one-year to 7.7%, from 7.5%, two-year to 7.90% from 7.7% and three-year to 8.00% from 7.80%. SBI latest MCLR rates Overnight  - 7.35% One Month - 7.35% Three Month - 7.35% Six Month - 7.65% One Year - 7.7% Two Years - 7.9% Three Years - 8% Check Latest - SBI Home Loan Interest Rates

  Credit-score provider VantageScore Solutions LLC said it would stop factoring all medical debts that are in collections into the latest versions of its scores. VantageScore’s decision goes beyond a recent move by Equifax Inc., Experian PLC and TransUnion to remove many medical collections from people’s credit reports. The three companies own VantageScore, which competes against Fair Isaac Corp., the creator of the more widely used FICO credit scores . Hospitals and other medical providers send unpaid bills to collection companies, which then report the accounts to the credit-reporting firms. The information often lowers people’s credit scores, which makes it harder to get approved for credit or to get loans on affordable terms. VantageScore expects the change to take place in October. Millions of people with medical debts in collections could see a score increase of as much as 20 points, the company said.

Led by spruced-up mobile apps, pre-approved loan limits and quicker sanctions and disbursal, public sector banks are witnessing a surge in demand for personal loans as consumption gathers pace. State-owned lenders such as Bank of India, Bank of Baroda and Punjab National Bank have seen strong growth in this segment.  Personal loans have been the forte of private lenders, backed by tech-driven loan underwriting capabilities. While State Bank of India (SBI) has always stood out for its digital banking initiatives, which are on a par with the private sector, other lenders are catching up.