Home Loan Interest Rates
Home Loan EMI Calculator: Everyone wishes to have their own home at some point in time in their lives. Checkout Zee Business home loan EMI calculator to calculate your monthly installments. Plan your home loan EMI online using free loan calculator, Loan EMI Calculator.
This is a home loan calculator to calculate home loan EMI on a monthly basis. You can use this free home loan EMI calculator to figure out your monthly EMI on your home loan. A home loan is for borrowers who are looking to buy a house for their own or to construct a house on the land they already own. The maximum duration for a home loan is 20 years although some banks may offer repayment up to 25 years or even 30 years. Banks will usually finance up to 80% of the total value of the home. This can go up to 90% in cases the property a borrower is looking to buy is already approved by the bank. Interest rates for a home loan are usually flexible and linked to the prevailing interest rates in the country as directed by the repo rate or monetary policy of the Reserve Bank of India.
Home loans are also eligible for tax benefits as up to Rs 2 lakh a year on the interest of a home loan paid can be used to bring down your income tax outgo for each financial year. Home loans, because of their large ticket size, take time to be disbursed and banks have stringent checks to assess the repayment capacity of the borrowers and their future prospects. It helps if the borrower does not already have another loan and the EMI burden is low.
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Home Loan
India 360: Home Loan Tenure Stretching Beyond Retirement Age? Here’s How To Reduce It
Mon, Mar 27, 2023
As interest rates increased from a decade-low of 6.5 per cent to over 9.5 per cent, the loan repayment tenure for many borrowers has stretched beyond their retirement age. This has dealt a blow to those home loan buyers who have taken home loans on floating rates. Why has home loan become expensive? What is its impact on common man? Watch full analysis with Deepak Dobhal.
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After Bank of Baroda, this public sector lender cuts home loan rate to 8.4%
Sun, Mar 12, 2023
The home loan at 8.4 per cent makes Bank of Maharashtra it one of the lowest in the banking sector. This would help the public sector bank to get more home loan business and shall also help home loan borrowers to pay reduced EMIs.
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The Right Property Show: How Indexation Can Help In Saving Capital Gains Tax While Transferring Property
Sun, Mar 12, 2023
Indexation, or the adjustment of purchase price of property for inflation, can affect the cost of buying and selling property majorly. Here we talk about how its calculation, and its use in determining property tax.
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The Right Property Show: 5 Ways To Save On Capital Gains Tax During Property Transaction
Sun, Feb 26, 2023
The Right Property Show: Capital Gains Tax can significantly impact the total cost of your property transaction. Here we talk about exemptions that can help you reduce this tax liability.
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The Right Property Show: Tips To Save On Property Tax While Buying Real Estate
Sun, Feb 19, 2023
The Right Property Show: Property taxes can make up a considerable chunk of a plot or flat's price, however, there are ways in which property buyers can save some part of it. Here we look at five ways in which one can save on property taxes.
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Home, personal loan EMIs set to rise as RBI hikes repo rate for 6th in a row - Here's the math behind it
Wed, Feb 08, 2023
Reserve Bank of India Governor Shaktikanta Das-led Monetary Policy Committee (MPC) has raised the repo rate by 25 basis points, paving the way for banks and non-banking financial companies to increase interest rates on home, personal and other kinds of loans.
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HDFC gets USD 400 million IFC loan for financing green affordable housing units
Sat, Dec 24, 2022
It is estimated that 275 million people in the country or 22 per cent of the over 1.4 billion population do not have access to adequate housing, and rural housing shortage is twice that of urban areas.
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How does a rise in repo rate impact home loans? Expert decodes – what should buyers know?
Sun, Dec 18, 2022
The monetary policy committee (MPC) of the Reserve Bank of India (RBI) on December 7, 2022, announced a fifth straight hike in the benchmark interest rates by 35 basis points to 6.25 per cent with a 5:1 unanimous voting by a six-member panel.
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Home Loan Tips: Banks use THIS tool to approve loans at lower interest rate — Check details
Sat, Dec 17, 2022
CIBIL Score for Loan: Credit score is the perfect tool to esimate a person's financial status and credit-worthiness. When looking to apply for a loan, your credit score decides if banks will lend to you and at what rate of interest you get your loan.
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Home Loan Tax Benefits - Planning to buy your dream home? Here's how to save tax through home loan
Mon, Dec 05, 2022
Home Loan Tax Benefits: Home loans are strictly given for the purchase or construction of a house. It has two components - Principal amount and interest amount. One can avail tax benefits on these components under sections 80C and 24(B) of the Income Tax Act, 1961.
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Centrum Housing Finance acquires home loan book of National Trust Housing Finance for Rs 112 crore
Sun, Dec 04, 2022
Centrum Housing has entered into a binding agreement to acquire the housing finance business of National Trust Housing Finance, the Centrum group said in a statement, without disclosing the value of the transaction.
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Bank of Maharashtra slashes home loan rate to 8% in festive offer
Sun, Oct 16, 2022
The Pune-based lender has also slashed interest rate on personal loans to 8.9 per cent from the existing 11.35 per cent effective Monday (October 17, 2022), BoM said in a statement. The lender has already waived processing fee for its gold, home and car loans under the 'Diwali Dhamaka' offer.
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