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Transparency in floating interest rate home loans – Customers to know changes in reference rate instantly
The Banking Codes and Standards Board of India (BCSBI) has asked its member banks to publish the reference rate to which its floating rate loans are tied. The banks have also been asked to publish any changes made to the reference rate.Interest rates are bottoming out – Want to take a loan? The right time is now!
The interest rates are near their bottom today, before they move up again. This is the right time to take a home loan, a car loan or any other long term loan. It also has implications of FDs that you might want to keep.Shopping online using a credit or debit card: Verified by Visa / MasterCard mandatory from 1st Aug 2009
To prevent online frauds, RBI has mandated that all online transactions using a credit card or a debit card should have an extra layer of security (a password) starting 1st Aug 2009.SBI offers discounts for “Green” home loans
Showing sensitivity to the environment, the State Bank of India (SBI) is offering various discounts for housing loans taken to buy or build “Green” homes.Financing the purchase of your Tata Nano
You want to buy the Tata Nano, but don’t have the money to make the initial down payment. No need to worry – many financiers have lined up to extend you credit for the Nano.Read on to find out which banks are offering a loan for the Nano, the schemes they are offering, and the details of the interest rates charged.
Advantages and disadvantages of home loan in joint names
A home loan can be taken in your individual capacity – in your single name. Or it can be taken in joint names, usually along with your spouse.There are pros and cons of doing this. Read on.
ICICI Bank hikes interest rates on home loans
ICICI Bank has increased the rate of interest on home loans by 1%Change in interest rate: Impact on floating rate home loan, EMI and tenure
The interest rates have been very volatile in the last few years. A couple of years back, the rates were going down. And they have been moving up for some years now.What effect does a rate change have on a floating rate home loan (or mortgage)? Does it change the amount of the EMI? Does it alter the tenure of the repayment period? Let’s explore.
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