Income Tax : The New Tax Regime restricts Section 24(b) benefits, disallowing set-off of home loan interest against salary income. Taxpayers mu...
Income Tax : Understand the taxation rules for income from house property, including the basis of charge, computation of Gross and Net Annual V...
Finance : Learn about fixed and floating home loan interest rates. Know how each affects your monthly payments, loan tenure, and overall cos...
Finance : Owning a home is a dream for many, but a home loan is a long-term financial commitment that can span several years. Given rising l...
Income Tax : Learn how to optimize home loan interest tax benefits for self-occupied and rented properties. Strategies include reducing capital...
Finance : Launched in January 2018, Bajaj Finserv’s new website is a perfect example of consumer satisfaction. Why? Well, it’s because o...
Finance : Mumbai: ICICI Bank, India’s largest private sector bank by consolidated assets, today announced the launch of a new home loan, w...
Finance : ICICI Bank, India’s largest private sector bank by consolidated assets, today announced reduction of interest rates by upto 30 b...
Corporate Law, Income Tax : Credit Linked Interest Subsidy scheme for tax paying Middle Classes made effective from January 1 this year. Those sanctioned hous...
Finance : ICICI Bank launches ‘Mortgage Guarantee’ backed loans for affordable housing sector First bank in India to offer this facilit...
Income Tax : During the appellate proceedings, the assessee has submitted that it has taken loan for purchase of two residential properties whi...
Income Tax : Vishwa Kalyan Society Vs DCIT (ITAT Ahmedabad) Brief facts of the case are, that the assessee is a Charitable Trust, having income...
Income Tax : The issue under consideration is whether the default in home loan by the owner of the property can be the reason to disallow the c...
Income Tax : NOTIFICATION NO. 93/2008, DATED 30-9-2008 Reverse Mortgage means mortgage of a capital asset by an eligible pcrscn against a loan ...
Generally when a person taken home loan, he takes into account his current income and accordingly applies for the loan based on the then eligibility. However with income going up the borrower generally accumulates some surplus. Such borrowers face the dilemma what to do with the surplus funds. Should I prepay the home loan or should I invest the money somewhere else.
If you’re getting married, you’re affirming your relationship with a legal union. This legality secures the bond between two people beyond whatever spiritual or emotional union they’re undertaking – it’s also joining them at the wallet. If you’re planning on getting married, you should have a discussion about finances. If you’ve already gotten married, you […]
1. For what purposes can I seek a first time home loan?You can generally seek a first time home loan for buying a house or a flat, renovation, extension and repairs to your existing house. Most banks have a separate policy for those who are going for a second house. Please remember to seek specific clarifications on the above-mentioned issues from your commercial bank.
Reserve Bank of India had deregulated the interest rates on advances sanctioned by Scheduled Commercial Banks, with effect from October 18, 1994 and these interest rates were determined by bank themselves with the approval of their Boards, subject to Benchmark Prime Lending Rate (BPLR) and spread guidelines.
Mumbai, July 11, 2012: In a new initiative, IDBI Bank would be launching a 24*7 loan monitoring system for its retail as well as corporate clients. Under this facility, a customer can directly inform a centralized system about submission of his/her loan application details to IDBI Bank via SMS, email or through the website. A dedicated SMS number, Email ID (loan@idbi.co.in) and utility in the website has been created for this purpose. These mechanisms would go live shortly.
The Union Cabinet today approved the proposal for extending the scheme of interest subvention of 1% on housing loans upto Rs.15 lakh where the cost of the house does not exceed Rs.25 lakh for the year 2012-13 and to amend the operational part of guidelines for release of funds.
By using any one of these software you can calculate EMI, Rate of Interest, Total Interest during the loan period, EMI Schedule etc. of your Home loan, Auto Loan Etc:-
Reserve Bank of India (RBI) in its monetary policy, during 2012-13 has announced not to permit banks to levy foreclosure charges/pre-payment penalties on home loan on a floating interest rate basis.
IDBI Bank’s loans, linked to Base Rate/BPLR, will become cheaper following a 25 bps reduction in Base Rate (to 10.50%) and BPLR (to 15.00%), with effect from April 20, 2012. IDBI Bank has taken this pro-active step, keeping in view the recent policy measures announced by the RBI and the emerging market conditions expected to arise out of the transmission of these monetary measures. The Bank has also decided to reduce the Retail Term Deposit Rates by 10-50 bps in various buckets having maturity of ‘six months and above’.
The Damodaran Committee had observed that foreclosure charges levied by banks on prepayment of home loans were resented upon by home loan borrowers across the board, especially since banks were found to be hesitant in passing on the benefits of lower interest rates to the existing borrowers in a falling interest rate scenario. As such, foreclosure charges are seen as a restrictive practice deterring the borrowers from switching over to cheaper available source.
