Loan for personal Home at Low Intrest rate

 Small ticket loans now make 50 per cent of the personal loan segment and their ticket size is below Rs 1 lakh, says CRIF High Mark report. Here are four trends observed in the lending market post Covid. Small ticket loans with values of less than Rs. 1 lakh have contributed close to 50 per cent of the overall personal loan market. “The majority of people have preferred small-ticket loans, as they offered a quick online process, instant disbursal, better management of loans, and reduced ticket values.” According to a report corroborated by TransUnion CIBIL Score and Google, millennials (age group 26 – 41) formed the bulk of the retail loan borrower accounts. So, what led to this trend? Here are the details. Some Recent Trends Seen by Fintech’s/Non-Banking Financial Companies (NBFCs) Higher Interest among Consumers after Covid-19: Sucheta Mahapatra, managing director, Branch, a personal finance application, says that they saw the demand for loans rise by two times during the peak ...

Launched in January this year, InstaCard is delivered to customers within an hour of applying for a credit card in quick and easy steps on net-banking. Private sector lender HDFC Bank has issued 3 lakh instant credit cards within a year of its launch. Launched in January this year, InstaCard is delivered to customers within an hour of applying for a credit card in quick and easy steps on net-banking, HDFC Bank said in a statement. With InstaCard, customers can do online transactions on e-commerce websites immediately on receipt of the InstaCard, it said, adding, the physical card is then delivered to the customers within a few days, it said. Popularly also known as digital credit card, an InstaCard is issued using a combination of credit bureau information, pre-qualification algorithms and checks in the application form, it added.

Personal loans are effective financial solutions to raise some extra funds on an urgent basis. A personal loan can be used for any purpose including renovating your house, paying for a wedding, purchasing business equipment, setting up a new office, clubbing outstanding dues against one loan, capitalising on an investment opportunity or simply taking a long-awaited vacation and so on. Availing personal loan gives people an opportunity to fulfil their financial obligations or achieving their dreams, making them a hugely popular financial solution in the current scenario. Some of its key advantages include: # Easy application process requiring basic KYC documentations # Quick disbursal of funds # Flexible repayment tenure and attractive rate of interest. # Options to make prepayments and close the personal loan before expiry with 4 percent closure charges While the benefits of this scheme are many, the decision to opt for it is a big one. One must acquire proper knowledge ab...

"Interest rates have been soft and real estate prices have moved up very marginally as compared to the level of increase in disposable incomes thereby making house buying more affordable," managing director of HDFC, Renu Sud Karnad, said. There is good traction for properties in the periphery regions of the four metros, she said. Indiabulls Housing Finance , too, has reported 36% growth in home loan disbursals to Rs 10,065 crore during FY15 as against Rs 7,387 crore during 2013-14. "Growth has been driven by funding houses in the Rs 25-50 lakh (range) where transaction volumes have been very robust over the last year," deputy managing director of Indiabulls Housing, Ashwini Hooda, said. In fact, the centre's push towards affordable housing is expected to boost overall home loan growth to 20-22% this fiscal, according to a recent report by ICRA. The segment had seen 17% growth in the first nine months of 2014-15 with the housing finance market crossing the ...

In home loans too, the slab rate is down from 10.5% in January to around 10.25%. Loans against property, too, have seen a 25-50 bps reduction so far this year. HFCs (home finance companies) and banks say that home loan rates in the industry are now closely aligned to the base rate (10-10.25%) and they range from 10.15% to 10.3% as against 10.25% to 10.5% a year ago. Like auto loans, there's no official rate cut in the offing but there will be promotional pressure this festive season. Some home financiers like Sundaram BNP Paribas Home Finance have reduced their home rates by 0.25% to 0.30% in the last five months to 10.15% currently. "During the festive season, we may bring in offers of home loans just below 10% or at 10%," Srinivas Acharya, MD, Sundaram BNP Paribas Home Finance, said. Industry biggie HDFC will soon be closing its two month campaign (which began on August 1) on home loans up to Rs 75 lakh at 10.15%. "Earlier, the 10.15% rate was applicable f...

The high interest rates have been painful for borrowers and many are finding it tough to manage and repay existing loans. Commercial loan The commercial loan segment is not in the limelight but the rate hike in these accounts impacts the midsized businesses. Usually, small and medium businesses run on small margins, and therefore do not have much of a cushion to absorb the additional interest burden. During a high interest rate regime, small and medium businesses should reduce their dependence on bank loans and go for alternate funding for their business needs. Home loan The interest rates on home loans have gone up quite significantly. Although the RBI has indicated a pause on further key rate hikes, it does not mean the interest rates will start coming down in the short term. Home loan borrowers should remain in touch with their banks for special schemes to reduce the interest rate. Also, home loan borrowers should plan alternate sources of income or reduce the loa...

what the central bank might do to rates shortly, and pat comes his considered response about repo rates. And about what the BoI will likely do in response. In an interview, he holds forth on the bank’s future plans and the path ahead for the banking industry. What is your outlook on interest rates? A pause (in interest rates) is definitely confirmed and going forward, interest rates would start moving down. This may happen even in the forthcoming monetary policy review (on January 24). The cut may be in the repo rate (now at 8.5%). Bulk of the reduction could happen in the first and second quarter of the next financial year. In the monetary policy review, the repo rate cut may be 25 basis points (bps). If the Reserve Bank of India (RBI) cuts the repo rate in January, will you reduce lending rates? Yes, we will do it immediately. This is because, if my borrowing cost is going down, I need to pass it on to the customers. What is your outlook on deposit and lending rates in...