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You may want to renovate your home to carry out essential repairs and maintenance work or to improve its aesthetics and your comfort. Both can come with a heavy price tag. In order to meet the expenses without any compromise, consider applying for a home renovation loan. Here’s how renovating...

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For long, parents have been saving for the primary and secondary education of their children, as well as any higher studies. The past 10-15 years have seen a change with more students willing to take on the responsibility to fund their education, and this is where student loans play an...

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Where there is an asset, can the lender be far behind? After loan against property, here comes loan against mutual funds (MFs). HDFC Bank has launched an online overdraft (OD) facility that can be set up in under three minutes, for lending money against your mutual fund holdings. The Bank has...

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The duration of a loan, especially a mortgage, tends to be so long that one tends to forget details about what went into the process of procuring the loan. This, sometimes, leads to carelessness in ensuring that the loan is correctly closed.    Every Thursday, I guide people facing...

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IANS 02 November 2017
India's largest lender State Bank of India (SBI) on Thursday announced reduction of interest rates on home and automobile loans by five basis points (bps).   In a statement issued here the bank said, it has reduced home loan interest rates to 8.30 per cent.   Similarly,...

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The State Bank of India (SBI) on Friday announced reduction in home loan interest rates by 10 basis points (bps) for salaried women who take a loan of above Rs 75 lakh, effective from June 15.   "Home loans above Rs 75 lakh will now be cheaper by 10 bps with effect from June 15. The...

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Outlining its plan to deal with the mounting problem of banks' bad loans, the Reserve Bank of India (RBI) on Monday said it will reconstitute the oversight committee (OC) to operationalise the banking ordinance for resolving the issue of non-performing assets (NPAs).   "It has been...

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Moneylife Digital Team 17 May 2017
Here is good news for new borrowers of home loans as they can now get lower interest rates, with several lenders having reduced the rates. However, for existing borrowers on floating rate basis, there is no immediate respite, as they will have to wait for the next reset date for the marginal...

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Mumbai, The mounting problem of bad loans of banks cannot be resolved by their simple recapitalisation and options like raising private capital for state-run banks need to be considered to deal with the issue, the RBI said on Friday.   "I wish to propose that we deal with the ailing...

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Moneylife Digital Team 19 January 2017
HDFC Ltd, one of the largest housing finance company, on Thursday announced a 15 basis points (bps) reduction in its retail prime lending rate (RPLR). This reduction would benefit all existing customers, the lender said.   For all new home loans of up to Rs75 lakh, interest rates for...

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Abhirup Ghosh 05 August 2016
The Pradhan Mantri Awas Yojana (PMAY)– Housing for All aims at addressing the shortage of 20 million slum and non-slum urban poor households, by 2022. Under the PMAY, central assistance will be provided to the Urban Local Bodies (ULB) and other implementing agencies through union territories...

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Bengaluru: Outgoing Reserve Bank of India Governor Raghuram Rajan on Wednesday said that education loans should be made flexible to the borrower.   "What a number of banks are finding is that some of the education loan borrowers are not paying back, default rate is picking up," said...

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Jason Monteiro Jason Monteiro  and   Niraj Prajapati 23 June 2016
Indians love gold and even the poorest Indian tries to acquire the smallest trinket that doubles up as jewellery and long-term savings. Naturally, television advertisements featuring movie superstars who tell you how easy it is to borrow money against that carefully accumulated gold, touch an...

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Moneylife Digital Team 20 May 2016
Moneylife Foundation, a non-governmental organisation (NGO) with over 39,000 members, has requested the Reserve Bank of India (RBI) to provide clarity on defaults recorded by credit information companies (CICs), proper dispute resolution mechanism for credit reports, score and history and...

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Moneylife Digital Team 10 November 2015
A sudden decline in home loan rates as a result of base rate cut by the RBI has boosted the sentiment in the Indian real estate sector, says Liases Foras in a research note   The performance of the Indian real estate sector during the second quarter as been encouraging and reflects an...

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A dedicated web portal has been launched for the students to access all kinds of educational loans and government scholarships, an official statement said on Thursday.   The portal - www.vidyalakshmi.co.in - was launched by the finance ministry, the human resource development ministry...

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Moneylife Digital Team 14 April 2015
ICICI Bank, India's largest private sector lender, said it cut interest rates on home loan by 25 basis points or by 0.25% for all its existing and new borrowers.   "With this announcement, women as well as applicants from weaker sections will get home loans at 9.85%. The rate will be...

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Yogesh Sapkale Yogesh Sapkale 27 February 2015
If the RBI raises interest rates, your home loan rate goes up. But when RBI cuts rates, your rates don’t go down. Why?   Whenever RBI announces an increase in its monetary policy rates, housing loan-providers, such as banks and finance companies, are quick to hike interest rates....

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Moneylife Digital Team 11 February 2015
Remember Credit Sudhaar, the firm that used to charge money for improving one’s credit score? It is now claiming to provide ‘free credit score’ that too when neither CIBIL nor Experian India nor Equifax gives free credit report    Credit Sudhaar Services Private Ltd, the so-called...

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Moneylife Digital Team 12 January 2015
Seven years after he settled a loan, a borrower is being subjected to numerous calls, notices and even arrest warrant. The only mistake, he committed was not to collect the NOC and account statement from the lender after his settlement    Mumbai-based trader Ramnik Patel (name...

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