I own two houses. Both are taken on housing loans. I stay in the first house, and my parents remain in the second house. Can I take tax benefits for both properties? Can I also avail of the tax benefit for stamp duty and registration charges paid for the second property purchased in March 2024? …
If you are planning to buy a house and looking for a home loan for the same, you would ideally be looking not only for a bank that can give you money as early as possible but also the one that charges a low rate of interest. After all, the marginal difference in the interest …
Regardless of Reserve Bank of India (RBI) keeping its repo rate constant at 6.5 per cent, Bank of Baroda raised its MCLR across four tenors by 5 basis points with effect from today i.e., April 12, 2024. Bank of Baroda’s base rate is now 9.40 percent with effect from Friday. Additionally, BPLR for all the existing accounts …
Loan default: With digitalisation, getting credit is now easier and faster, offering convenient access to financial resources for borrowers. However, this ease has led to more defaults, worrying lenders. Borrowers may face stressful situations, such as being unable to repay loans, especially with auto loans where vehicles may be seized. To ensure fairness, the Reserve …
When it comes to managing your home loan, understanding the differences between refinancing and restructuring is crucial. Home loans are high-ticket-loan items and equated monthly instalments (EMIs) on such loans are likely to be a large chunk of most household’s monthly income. Servicing such debt could get challenging for a family over the long tenure …
It is particularly beneficial for those senior citizens who require a consistent income source since the loan amount is not required to be repaid until the borrower either sells their home or moves out. What is a reverse mortgage? A reverse mortgage is a loan available to homeowners aged 62 or older, allowing them to …
In case you are planning to buy a house and are on the lookout for a home loan, you should first compare the rates of interest offered by different banks and then apply for the one that suits you the most. Interest rates on loans above ₹50 lakh ICICI Bank: When the loan amount ranges between ₹35 …
To gauge the government’s stance on home loan interest rates in Budget 2024, homebuyers and industry experts should closely monitor official statements, policy announcements, and economic indicators, says Atul Monga, CEO and Co-founder, Basic Home Loan. In an interview with MintGenie, Monga said that reviving expired incentives, such as tax breaks, is crucial for affordable housing. Edited Excerpts Can …
Synopsis In theory, lower interest rates are supposed to push demand for real estate. but if one looks at what has happened in the last one year, this theory has been turned upside down. Interest rates are high on a relative basis as compared to what they were three years back, but still demand for …
Buying your own abode is a goal most of us aim to accomplish. Staying in a rented house can never give you the sense of pleasure that your own property can. But before you set out to buy a property, there are certain things to be careful about. What if you have the resources to …