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HOME LOAN & INSURANCE NEWS

  February 2010
Feb 25 2010  
Banks have sought clarity from RBI on pricing of old home loans once the new ?base rate? regime sets in. Loan agreements, stretching for 15-20 years, have no provision for replacing the prime lending rate (or PLR) ? the anchor interest rate to which the floating rates are linked...
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Feb 17 2010  
Banks? teaser rate offers for home loans have failed to attract new borrowers. These schemes offer a low fixed interest rate for the first few years and a floating rate after that. Latest data released by the Reserve Bank of India (RBI) ...
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Feb 16 2010  
The special invitational or teaser rates for new home loans which were less than those offered to earlier customers are set to be withdrawn. This means a hike of up to 2% in interest rates.....
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Feb 13 2010  
Amid a debate over teaser rates, bankers are believed to have turned down the RBI?s suggestion to extend the cheaper home loans to existing customers saying that the move will impact their bottom lines...
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Feb 09 2010  
The Reserve Bank of India (RBI) hiked the cash reserve ratio (CRR) in the monetary policy review last week. Despite a more-than-expected hike in the CRR, banks have, in general, ruled out any immediate hike in lending rates. ..
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Feb 03 2010  
Banks have expressed concern over the competition commission's intervention on homeloan prepayment penalty issue as they fear that this would put pressure on their costs, increase risk and even lead to higher lending rates. Last month, Competition Commission of India ...
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  January 2010
Jan 27 2010  
The securitisation market, where banks slice loans and sell them down as securities to investors such as mutual funds and banks, has come to a near standstill. Banks are now awaiting further clarification from the regulator on a recent directive, mandating lenders to retain a part of these products
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Jan 20 2010  
Amidst media reports of guidelines for home loans that attempt to clamp down on teaser rates, the Indian Bank Association (IBA) has said that it has received no communication from the Reserve Bank of India (RBI).
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Jan 18 2010  
India?s banking regulator ? the Reserve Bank of India (RBI) ? has expressed concern on banks offering home loans with teaser rates, or schemes where monthly instalments rise after the initial years
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Jan 16 2010  
The latest ?teaser? from the Reserve Bank of India hasn?t amused Om Prakash Bhatt, chairman of State Bank of India, the bank that pioneered limited-period soft terms for home loans.
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Jan 15 2010  
Driven by angry mortgage borrowers, RBI has once again nudged top banks to charge lower home loan rates to old customers instead of just using the lower interest rates to pull new borrowers. But lenders continued to resist the proposal, citing cost mismatch.
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Jan 07 2010  
ICICI Bank is optimistic about home and auto loans amidst slowdown in the banking industry. The bank's deputy managing director, Sandeep Bakshi, said, "On quarter-on-quarter basis, in the first two quarters, our home loan portfolio has shown an improvement.
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Jan 04 2010  
Two months after it launched the 8 per cent home loan offer, leading private sector lender, Axis Bank on Tuesday came with a special scheme to give home loans at 8.25 per cent fixed rate for the first two years irrespective of loan amount. This scheme is open till March 31, 2010. After the offer period, floating rate of interest will be applicable based on the mortgage reference rate.
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Jan 04 2010  
The year 2009 was a good one for home loan borrowers. Banks rolled out the goodies for them in the form of low interest rate offers and special home loan packages. Stable property prices also helped. So, the demand for home loans was steady
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  December 2009
Dec 30, 2009  
The State Bank of India (SBI) does not foresee any immediate change in lending rates. SBI chairman .P. Bhatt, who was in the city today, said the bank's initiative in the home loan segment had helped both customers and real estate developers.
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Dec 23, 2009  
The city-based state-run United Bank of India (UBI) has launched an eight percent home loan scheme available till March 31 next year, a release said here on Tuesday. The bank would charge eight percent interest on home loan for the first year and nine percent for the second to fourth years
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Dec 22, 2009  
Citibank on Monday launched a novel mortgage product 'CitiHome One' to offer its customers a home loan facility. The universal home product enables the bank's customers to avail a conventional term loan and a credit line for buying or constructing a home of their choice, the leading foreign bank said in a statement here. "We offer customers a dual advantage of interest savings on their home loans
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Dec 22, 2009  
Home loan customers of Axis Bank have good news after the bank has decided not to charge pre-payment penalties to its home loans even when customers shift a loan to a competing bank. Citing 'cost of money' as a reason many lenders have imposed pre-payment penalties when any of their customers seeks to refinance a home loan through fresh loans at lower rates.
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Dec 22, 2009  
Dewan Housing Finance Corporation Ltd (DHFL) has joined the bandwagon of those offering lower interest rate home-loan schemes for the lower and middle income (LMI) group. The company today announced a 25-year home- loan scheme at a fixed 8 per cent interest rate annually for a period of two years for loans upto Rs 5 lakh, thereafter reverting to the variable interest rate. Similarly, the company has fixed an interest rate of 8.75 per cent annnually for two years for loans above Rs 20 lakh.
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Dec 18, 2009  
The interest rate scene in the country will remain easy for the next three-four quarters as there is excessive liquidity in the financial system, said Keki Mistry, managing director, HDFC Ltd. "Credit offtake from the corporate sector is low and, therefore, demand for money will be low, keeping the interest rates too at low levels," Mistry told media persons on Thursday.
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Dec 8, 2009  
Even as realty markets are trying to shake off the downturn impact, SKS Microfinance, the largest microfinance company in terms of assets, is set to offer its customers loans for their housing needs.
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Dec 3, 2009  
Home loan interest rates have come down quite significantly over the last one year as the Reserve Bank of India (RBI) cut the key policy rates (repo and reverse repo rates) and the cash reserve ratio (CRR).
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Dec 2, 2009  
The largest housing finance major? HDFC has fallen in line with State Bank of India. The company has introduced a special home loan scheme at 8.25% fixed up to March 2012, reports CNBC-TV18?s Gopika Gopakumar.
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  Nov 2009
Nov 9, 2009  
Country?s biggest lender State Bank of India has lengthened its special home loan scheme at 8% rate of interest by more than 4-months till 31st March, 2010. The decision of the bank would help small home loan receivers
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Nov 2, 2009  
A panel from Reserve Bank of India has proposed a transparent pricing structure for floating rate loans. As per the proposal the benchmark rates would get automatically revised with the reduction in cost of funds.
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  Oct 2009
Oct 23, 2009  
A panel from Reserve Bank of India has proposed a transparent pricing structure for floating rate loans. As per the proposal the benchmark rates would get automatically revised with the reduction in cost of funds...
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Oct 15, 2009  
Public sector lender, Central Bank of India, expects its home loan segment to grow by 25 per cent in the current fiscal, which would widen the portfolio size to Rs 10,000-crore, a top official said. "We are looking at a home loan growth of about 25 per cent this year.
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Oct 08, 2009  
Real estate could be the lynchpin for the equity markets and a failure of a large initial public offering could start a correction in the market, a veteran banker said on Wednesday. "If a large real estate IPO fails, it could have a serious repercussion on the market...
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  Sep 2009
Sep 30, 2009  
Home loans today pierced the interest rate floor of 8 per cent that the State Bank of India had set in February. GIC Housing Finance, a subsidiary of state-owned General Insurance Corporation of India (GIC)...
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Sep 25, 2009  
Banks will now have to disclose the reference rate to which the lending rate is linked while extending loans to retail customers. They will also have to convey to the customer the most important terms and conditions for credit cards and loans, reports Business Standard....
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Sep 21, 2009  
State Bank of India, Deutsche Postbank, ING Vysya Bank and Punjab and Sind Bank are attempting to light up the festival season by lending more for home purchases than they did six months back, thanks to availability of funds and rising trust in the borrower....
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Sep 17, 2009  
Union Bank of India, Bank of India, Allahabad Bank, Corporation Bank, UCO, United Bank of India are among the banks entering this space. Traditional players will now have to chase customers given the increase in competition...
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Sep 16, 2009  
For those planning to take a loan to buy their house, there is good news. Several banks have slashed home loan rates recently. Bank of India has come up with a festive offer called Star Home Loan, which can be availed till December 31. For a loan of up to Rs 50 lakh...
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  Aug 2009
Aug 27, 2009  
Demand for residential projects in major cities is picking up on lower home loan rates, property price cuts by developers and job market recovery, a study by Religare Capital Markets Ltd said. Indian real estate saw demand for housing collapse from 2008 amid...
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  June 2009
Jun 15, 2009  
In order to revive the demand in the real estate sector, Urban Development Minister Jaipal Reddy today favoured cheaper loans for buying houses. "Real estate is facing a slowdown
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Jun 15, 2009  
The government is considering a proposal to hike income-tax exemption available for interest payment on home loans to
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Jun 12, 2009  
The rate of default in repaying home loan installments in public sector banks like SBI (State Bank of India) and PNB
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  September 2007
Sep 17, 2007  
After suffering substantial declines in the demand for home loans in India, banks have blamed the rising property rates as a reason behind the slash.
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Sep 07, 2007  
Owing to the sharp fall in the home loan demand in the recent times, the Indian banks have begun to cut interest rates. Interestingly, the banks have been propagating their move as Diwali offer in September itself, in spite of the fact that...
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Read More News from September 2007...

  August 2007
Aug 29 2007  
Reacting over the sub-prime mortgage crisis going on in the United States, the Reserve Bank of India (RBI) and National Housing Bank (NHB) have taken sufficient measures to protect Indian banking system of the same.
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Aug 16 2007  
ICICI Bank Home Loans is presenting a mega property exhibition ?Property Maha Utsav? from August 17 to 19, 2007 at Hotel Taj Palace in Delhi. The exhibition will be open 7 days a week from 10 a.m. to 8 p.m.
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Aug 10 2007  
A year ago, rate of interest were so low that people could easily be seen rushing to buy loans for everything from cars to homes. However, the scenario is now a 'Once upon a time' story.
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Read More News from August 2007...

  July 2007
July 31 2007  
Soaring interest rates on home loans and a recent rise in stock markets are forcing borrowers to take away their savings from the life insurance industry.
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July 26, 2007  
The country's largest mortgage finance company, HDFC, may reduce lending rates if the central bank does not tighten rates or resort to a monetary squeeze by hiking the cash reserve ratio (CRR).
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July 24, 2007  
Corporation Bank, an Indian bank in public sector, has brought a drop in its floating home loan rates by a quarter per cent. The cut on interest rates will be applicable to the loans with tenure of five to fifteen years.
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July 19, 2007  
HDFC, the country's largest housing finance company, has made a quantum jump in the home equity business by offering housing loans against property at 13.25%.
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Read More News from July 2007...

  June 2007
June 29, 2007  
State Bank of India, the largest bank in India, is considering revising the equated monthly installments (EMIs) on its home loans as interest rates have risen up by two per cent in the past 1 year.
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June 27, 2007  
For the last two quarters, there has been a considerable rise in default cases from retail customers. The situation has forced the top loan providers in the country: ICICI, State Bank of India (SBI), and HDFC, to sell their bad home loans.
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June 26, 2007  
Home loan borrowers may have to wait a while before they see interest rates soften unless the Reserve Bank of India relaxes some of the fiscal curbs it has imposed on banks as Rajiv Sabharwal, Senior General Manager at ICICI bank says.
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Read More News from June 2007...

  May 2007
May 24, 2007  
Home loan borrowers may have to wait a while before they see interest rates soften unless the Reserve Bank of India relaxes some of the fiscal curbs it has imposed on banks as Rajiv Sabharwal, Senior General Manager at ICICI bank says.
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May 22, 2007  
ICICI Bank has stepped up its support to realty market in Mysore by launching a 48-hour home loan-processing scheme.
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May 21, 2007  
The Reserve Bank of India (RBI) diktat to banks to go slow on home loans coupled with rising interest rates has resulted in home loan portfolios of large banks showing signs of a slowdown.
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May 18, 2007  
CARE has retained the ‘CARE A- (FD) [Single A Minus]’ rating of the FD programme of Weizmann Homes Ltd. (WHL) for the outstanding amount of Rs.2.89 crore.
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May 17 , 2007  
The National Housing Bank (NHB) is keeping a close watch on the possible defaults that could take place due to rise in equated monthly instalments (EMIs) on home loan borrowers
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May 15 , 2007  
Banks are inserting new clauses in home loan agreements to protect their books amid hardening interest rates and rising defaults. These loan conditions will make life a little more difficult for borrowers who are struggling to pay higher EMIs.
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Read More News from May 2007...

  April 2007
April 30, 2007  
Some public sector banks are considering the option of making the second home loan a tad expensive. The difference in interest rates could be in the range of 25-50 basis points.
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April 28, 2007  
Faced with an increase in defaults on home loans, banks are beginning to feel the 'bite' after growing their portfolios at breakneck pace in the last three years.
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April 27, 2007  
Bankers have still to take a view on whether interest rates for this category of home loans will get the benefit of the risk weight reduction offered by RBI in its credit policy.
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April 26, 2007  
Public sector banks, which did not raise interest rates on home loans since January, are likely to pass on the benefit of lower capital requirement on loans up to Rs 20 lakh to customers.
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April 24, 2007  
The Reserve Bank pressed the pause button on rate hikes, while sending clear signals to banks for a marginal reduction in interest rate for small home loan borrowers.
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Read More News from April 2007...


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