Home loan market stay for improved competition
Home loan market stay for improved competition
Article by hardeep
State-owned Punjab National Bank has announced a festival bonanza offering home loan at 8.5 per cent, a teaser rate to attract new customer.
The concessional rate of 8.5 per cent has been fixed for three years for housing loans up to Rs. 50 lakh. As per the existing rate-card, loans up to Rs. 30 lakh attract a lowest rate of 9.25 per cent with a repayment period of 5 years while loans above Rs. 30 lakh is available at 10 per cent for similar maturity.
“Under the offer, housing loans up to Rs. 50 lakh will be available at discounted rate of interest of 8.50 per cent under fixed interest rate option (fixed for three years) across all repayment tenors,” PNB said in a statement.
At the same time, new car loan borrower under fixed option will get a rebate of 0.5 per cent. The festival offer will be valid from August 20 to December 31, 2010. PNB is probably the first bank to announce loans at concessional rate to cash in on festive fervor.
Interestingly rebate comes weeks after after PNB raised its Benchmark Prime Lending Rate (BPLR) for its existing customers.
BPLR of the bank was raised 75 basis points to 11.75 per cent with effect from August 1. Home loan borrower will get full waiver of upfront processing fee and documentation charges, it said.
Besides, margin stands reduced to 15 per cent from 25 per cent for housing loans upto Rs. 20 lakh, it said. Country’s largest lender State Bank of India is offering concessional home loan interest rates at 8 per cent for the first year.
The bank decided to extend its popular home loan and car loan schemes and leave their terms unchanged, following the transition to base rate system from July 1. The rates are valid till September 30.
get more info on loans and Credit cards at http://www.deal4loans.com
Question by : can I cash out on a home loan after it has been placed on the market?
My house it on the market for sell, however I have decided to refinance and would like to know how long does my house have to be off the market for I can cash out?
Best answer:
Answer by Spock (rhp)
start your refi search after the sale contract ends.
Know better? Leave your own answer in the comments!
Categories: Loan Market Tags: Competition, home, improved, Loan, market, Stay
The Boon of IT In Loan Market with Secured Online Loan
The Boon of IT In Loan Market with Secured Online Loan
Article by Andrew Baker
The boon of information technology has made secured loan easily available. For finding a secured loan, you need not face much hassle. What you need to do is only click the mouse on the right link. And it will bring in front of you all possible information about a secured online loan. In addition, you can apply for this loan without any extra paper work.
Swift accessibility and hassle free methods are the buzzword of a secured online loan. In recent times, when managing time is considered as the most important thing, online availability of secured loan has eased the loan lending process. With this option, meeting various lenders, collecting their loan quotes, comparing those quotes everything a borrower can do within a limited span of time.
The requirement of a security is also present in secured online loan. Any worthy object, whether it is your home or your car, can be your choice as a security. A high valuable security privileges borrowers in getting more at a lower interest rate. However, as a secured online loan, a borrower can borrow the amount ranging from ?5000- £75000. Based on the borrowed amount, the repayment period is decided. But normally, this loan is given for 5-25 years.
Now, let’s have a look at the pros and cons of a secured online loan.
A secured online loan is available against a security. As this loan is secured on borrowers’ property, hence, lenders do not hesitate to provide this loan at a lower interest rate. Moreover, incase if you want to avail a higher amount, you can do that with this loan option. Flexible terms and conditions, lower interest rates and the scope of borrowing more entice borrower to avail a secured online loan.
Though the presence of a security, in this option facilitates borrowers with lower interest rate facility but, due to this security factor, the risk of collateral repossession is attached to this loan option. So, individuals are recommended to judge their financial capacity before availing a secured online loan. Do not ask for the amount that would be tough for you to repay. Remember, your borrowed amount should justify your repayment capacity.
With a secured online loan, borrowers can satisfy their numerous needs. For any purposes such as, paying off debts, making holiday trip, financing your wedding expenses, expanding business, pursuing higher study you can opt for a secured online loan. So, apply for a secured online loan and be benefited.
Andrew Baker has done his masters in finance from CPIT. He is engaged in providing free, professional, and independent advice to the residents of the UK. He works for the UKFinanceWorld for any type of loans secured online loan, home improvement loan, loans, unsecured loans,low cost secured loans, debt consolidation loan in UK please visit http://www.ukfinanceworld.co.uk
Question by xyupal: I have a mortgage company, How do I market my company to Loan Officers?
Best answer:
Answer by rmijares
PLease send over your rate sheets and program highlights..
info@valueinflow.com
Know better? Leave your own answer in the comments!