HOUSING FINNANCE

http://www. anugrahabuilders. com/luxuryvillasinbangalore. html Home Loans become Competitive With the soaring properties bangalore prices aggravated further by the Union Budgets hike in services tax from 10. 3% to 12. 36%, homebuyers can now breathe... More

http://www. anugrahabuilders. com/luxuryvillasinbangalore. html Home Loans become Competitive With the soaring properties bangalore prices aggravated further by the Union Budgets hike in services tax from 10. 3% to 12. 36%, homebuyers can now breathe easily. There is some consolation by way of reduction in home leading rates not only for the new borrowers but also for the existing borrowers. A few banks have reduced the home loan leading rates by 25 basis points to 75 basis points depending on the loan amount and repayment tenure. The move triggered by the country’s largest bank, State Bank of India, has made other banks to follow suites. In fact SBI has decided to allow existing borrowers to reprise their loan at lower rates but the switchover will be subject to payment of a small fee at one percent of the outstanding loan amount. A significant development is that there no cap set on the loan tenure or the amount of the loan to reprise their loan to a lower rate nor is there any Less