Buying a house is like a wish come true both for citizens of India as well as for non-resident Indians (NRIs). We all dream to purchase our own house one day and live happily with our families. No matter what kind of financial hardship an individual may face but they will always save up money for their mega dream. But due to the growing inflation costs and other commitments most often a common man finds it difficult to save enough to pay entire money in cash to buy the house.
Having a dream house in the home country is dream come true for every NRI. People having Indian citizenship who leave their home town and settle abroad for Jobs in MNC, branches of Indian government abroad or the government bodies of UNO, Higher Education or for setting up their own business are termed as NRI’s.
Taking a loan is now a commonplace practice as it helps to fulfill life's important goals. Whether a loan is taken for the purchase of a home or a car, several reputed banks offer attractive loan offerings for all people. An aspect that is closely associated with any kind of loan is the Equated Monthly Installment (EMI), which denotes the monthly sum payable on the loan taken. Given below is an overview of EMI and its association with loans
IT’S that time of the year when your employer asks you to submit proofs against investments to claim income tax deductions.
Apart from a total deduction of R1.5 lakh towards investment in Employees’ Provident Fund (EPF), Public Provident Fund (PPF), insurance premium, tuition fees for children, etc., an additional deduction up to R2 lakh per year can be claimed for interest paid on housing loan. Such benefit can be claimed by any individual taxpayer if the property is residential and self-occupied.
Owning a house is one of the biggest dreams for the majority of Indians but with the sky-rocketing property prices it has becomes a daunting task for people to finance their houses. While traditional finances are way too costly, borrowing from friends or family members might create a fear of rift in the relation. The best way to arrange money for buying a home would be taking a loan from housing finance companies. In India, almost leading private finance company or bank provides a housing loan at attractive interest rates and customized options to rope in the new customers.
Owning an apartment is probably the biggest financial goal that everybody has. With the easy availability of Home Loans, the dream of buying a home is coming true for many individuals. Almost all banks and NBFCs offer Home Loans and borrowers are actually spoilt for choices when looking for lenders. However, choosing the best Cibil score for home loan deal can be a daunting task. Remember, Home Loans lock you for a period of 20-25 years and sometimes even more. A wrong decision on your part can become really costly in the long run.
Have financial difficulties lead you to take out multiple loans? Do you find yourself surrounded with bills every month, so much so that you find it difficult to remember which have been paid and which not? Do you find keeping up with your finances an overwhelming task?
When people buy homes, their primary focus is purchasing the property at an affordable cost. It should be a property of their choice but at lower interest rate and processing fee. With the easing costs of house and house financing in India, you will be able to buy any residential property at best of the interest rates and financial services. Leading banks and private finance companies have created an amazing and useful online tool to help you along the way know as home loan EMI calculator.
Small business loans are a very good means of setting up an owned independent venture without taking up the financial support of family and friends. It is needless to say that financial strength will remove all the hurdles coming in your way. Business owners who are determined, but have to face troubles due to shortage of capital can seek assistance from private as well as public sector banks to avail a small business loan. These days banks have started offering loans to potential business entrepreneurs.
We all work hard to fulfill our dreams such as owning a car, house, good vacation with family, etc. Of these, a house is the biggest dream that has to be turned into reality at the right time and at the right place of your choice. For this, people do a series of research on the locality, travel convenience, safety measures, and most importantly finances that fit into their budget.
THREE forces have shaped the real estate market in recent times. Interest rates for home loans are the lowest in many years.
There’s a lot of unsold inventory and demand is low. This slowing down of the real estate market therefore presents an opportunity for interested buyers.
Impact of the home loan rate
If you are planning to take a home loan anytime soon, you’re most likely to face a conundrum to select between two different loan arrangements – one with a fixed interest rate and the other with a floating interest rate. Let’s go through the main differences between these two loan variants and how you can go about opting for the one, which is most suitable for you.
Home loans with floating interest rate:
As an existing home loan borrower, if you are expecting a reduction in interest rates in line with the recent Reserve Bank of India (RBI) repo rate cut, you could be disappointed. For those who had taken loans after July 1, 2010, but before April 1, 2016, the loans are linked to the lending bank's base rate. And for most of these borrowers, the home loan interest rate is upwards of 10 per cent.
What if you have one million pounds inside of the automotive and unexpectedly crash in the collision? This will resolve all dilemmas to make your car look like new? You're appropriate! At any time you have a very reputable insurance policies which can guide you repair any deterioration and charges not having difficulties. Insurance protection Clifton Park furnishes visitors with realistic methods to help with all the introduction of uncertainty.
The recent announcement of the implementation of the Seventh Central Pay Commission (CPC) recommendations was received on expected lines. The media made it out to be an extravaganza for a bloated and inefficient bureaucracy bereft of any linkage between performance and remuneration. On the other hand, government employees felt it fell short of expectations — as is usually the case with any kind of pay hikes.
2016 is looking to be one of the best years for home buyers. More tax benefits, rate cuts on loans, stagnant property prices, and new launches in the 'affordable' segment with freebies and attractive payment schemes. Many of you will be looking to take advantage of these benefits and buy a house. While hunting for a house at the right price, you'll be haggling with the bank to cut a loan deal too. Even if you get a discount on both, your tax bill can burn a hole unless you know the rules well. Here goes a list of six lesser known and often-missed tax benefits on home loans.
Buying your own house is one of the proudest moments of your life. Before buying it requires a lot of research, planning about your necessities as per your family needs, job location, locality, etc. and last but not the least about the huge finances to purchase it. Definitely, your house has to be a place wherein you get relaxed after a day’s tiring work. Therefore, you will obviously hunt for the property at an appropriate location and right finances to buy one.
You have zeroed in on your dream home and it fits your budget. The next step is to identify the lender who will provide the loan you need to make the purchase. It can be a daunting task, given the number of financial institutions and banks operating in the space. "Eligibility criteria, interest rate, processing fee and other factors will be key to deciding your lender
Start your search by evaluating the home loan offerings from lenders in the following manner.
Loan amount and eligibility
Owning a house is the best feeling in the world. Home is a place where one can find security and peace. However, having an own house is quite an impossible task in our country, looking at the sky high property and real estate rates. Until and unless you have a huge amount of savings and an extra ordinary bank balance, you cannot buy a house single handedly. Any one belonging to the lower middle class or middle class sector of the society will require a financial assistance if he/she wish to purchase a property or a house.