What to do when bank increase the rate of interest?

Imagine you loan amount 20 lacs taken in March 2010 for 20 yrs with EMI 17,994/- @ 9%. Now with current rate at 10.75% you have following options:- Increase you tenure by 19 more yrs and keep the EMI 17,994/-. Hike the EMI Partial Repayment. Currently due to increase in repo rate by Reserve Bank of India (Seventh increase since March 2010) all the banks have increase […]

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Property price rise driving Home Loans

Bankers have put down the recent drop in housing loan off-take to the unprecedented rise in property prices and not the recent rise in interest rates. According to bankers, the demand for home loans will pick up as prices fall in the next few months. Despite a rise in delinquencies in the personal loan portfolio, including home loans, banks are still banking […]

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