Promise of Pre-EMI Payment by Builders

You have been planning to purchase a house. A completed property is quite expensive. For an under-construction property, you understand it will be difficult to manage both EMI and rent at the same time. You have heard about the concept of pre-EMI and full EMI, that are typically available for under-construction properties. You understand a Pre-EMI… Continue Reading

ICICI Bank Home Loan 1% Cashback Offer

ICICI Bank has recently launched a scheme where new home loan borrowers will get 1% of EMI as cash back. Most of us would associate cash backs with credit card or online purchases. However, as banks try to find competitive advantage in relatively commodity like home loan market, cash back has found its way into plain… Continue Reading

A Home Loan at 3.99% p.a.?

I recently came across a news item that Tata Housing, a prominent realty company, has tied up with Indiabulls Home Finance to offer home loans at 3.99% p.a. The loan will offered by Indiabulls Housing Finance and the special interest rate of 3.99% p.a. applies for purchases in select projects from Tata Housing. As per the… Continue Reading

PNB Gen-Next Housing Finance Scheme

Young salaried employees are target customers for all the banks. Therefore, you can expect them to come with schemes to lure such prospects to their fold. The core idea behind such products is to offer such customers principal moratorium for a few years (since they may not be able to afford the full EMI). The… Continue Reading

ICICI Bank Extraa Home Loan – Our Review

In an earlier post, I had talked about ICICI Bank Step-up Home Loan, where the applicants could get higher loan eligibility than regular home loans due to moratorium on principal repayment for a few years. However, the limitation with Step-up loan was that the maximum age was capped at 40 years, the loan tenure was… Continue Reading