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Home loan interest rates india last 10 years,repayments on a 30000 car loan 6000,weekly auto loan payment calculator,car lease payment calculator uk online - Good Point

Author: admin | Category: Calculateur De Pret Auto | Date: 19.12.2015

Hii sir, I wants to Apply for the post of the Home loan Counsellor of the State bank of India will you please provide me the details of the Home loan Counsellor of the State bank of India ? Should be local resident, at least matriculate and able to communicate effectively in local language and English. If the HLC fails to bring in a minimum business as under in 6 months his services will stand automatically terminated. The following errors occurred with your submission Okay Your Username: Click here to log in Message: Options Quote message in reply? A cut in the lending rates by country’s largest lender, State Bank of India, has set the ball rolling for others. A new customer seeking a 20 year loan, amounting to Rs 50,00,000 will save close to Rs 2,800 in EMIs every month.
A day after State Bank of India announced a 40 basis point cut in lending rates, with effect from October 5, following the Reserve Bank of India’s repo rate cut of 50 basis points on Tuesday, the bank has gone on a sales spree.
The message has certainly made the customer think over his decision, who is now looking to explore his options. This shows that SBI’s move will soon force other banks and HFCs to announce a cut in their rates. At a time when the demand for residential housing is low and the prices have softened, a declining interest rate has only made the market more attractive for end users, and home buyers can do a hard bargain from their lenders for a low rate of interest. For the first time in four years, the RBI has brought the repo rate (at which it lends to commercial banks) under 7 per cent to 6.75 per cent.
Just six months ago, the interest rates being offered by banks and HFCs hovered around 10.15 per cent.
To quantify, a new customer seeking a 20-year loan, amounting to Rs 50 lakh will save close to Rs 2,800 in EMIs every month. Customers can save in two ways— either in terms of reduction in the tenure of loan or via a drop in the EMIs. However, ideally, investors should not go for reduction in EMI sum, but for reduction in tenure, as a cut in EMI value reduces the principal outgo and a higher portion of the EMI goes into interest payment. Individuals may also look to move to another bank or HFC, if their lender is not reducing the rate in line with others. Conversely, the time is not ripe for switching from a floating rate loan to a fixed rate loan.
Although the inflation rate has not come down as yet to the comfort levels, the RBI has softened its monetary policy mainly to address the concerns of the slowdown in the economic growth rate.
The repo rate is the short-term lending rate on which the RBI extends short-term lending to banks.
Most banks have not reduced their lending interest rates on existing home loan accounts following the recent cash reserve ratio (CRR) cut announced by the RBI last month.
Many banks do not automatically reduce the rates but offer schemes to borrowers to migrate to lower interest rates.
Banks have already started going aggressive on their new home loan schemes since the cut in the CRR last month, which resulted in more liquidity with banks.
There are two types of loan schemes – fixed interest rate schemes where the interest rate remains fixed for some time and the floating interest rate schemes where the interest rate keeps fluctuating based on market conditions.


Also, it will be wise to analyse the available options and go for a scheme that offers part fixed and part floating rate or fixed rate which provides an option to lockin at a lower rate in future by paying a conversion fee to the bank. The stock markets tanking and the rupee depreciating against the dollar seem to be daily headlines of late. Home loan borrowers used to be at the receiving end when they wanted to prepay their home loans. The Finance Ministry has announced the revised interest rates on various Post Office Small Savings Schemes. The rate of interest on Public Provident Fund (PPF) for Financial Year 2015-2016 has not been changed. The interest rates on Public Provident Fund (PPF), Term Deposits, Recurring Deposits, MIS & KVP have been kept unchanged for Financial Year 2015-2016.
Latest News (18-March-2016):  The Govt has cut rate of interest of Sukanya Samriddhi Scheme. This is Srujan, i am looking for a financial advisor for my investment, can you pass me your contact number to get in touch with you regairding suggestions of my investments. Hope banks are not interested to start SSA, because no gain for them like housing loan and personal loan. Suggest you to open the account in nearest post office and can transfer the account to a bank at a later point of time. Because some one tell me Interest rate will be same as available during account opening interest rate. When Banks are reducing the interest rate of fixed deposits, FM is only interested to hike the interest rate of SSA and Sr.
My point is, given the current micro conditions the interest rates across all the small savings schemes should actually fall.
This bid to provide cheaper loans would lead to a competition, where it is the customer who would emerge as the real winner. And they will at least try to come close to SBI’s offering, if not beat them on rate cut, since they risk losing customers.
While banks and HFCs have not been considerate enough in passing on the benefits of a rate cut to their customers in the last eight months, SBI’s move is set to open the floodgates and thereby, would lead to savings for home loan customers on their monthly EMI outgo.
So, while the EMI for the loan would have amounted to over Rs 48,700 almost six months back, at the new rates being offered by SBI, they will now come down to around Rs 46,000, resulting into savings of over Rs 2,700 per month. If, for some reason, in a rising interest rate market, an individual had gone for a fixed rate loan and is locked at a rate of around 10.5 to 11 per cent or more, he can look to move to a floating rate as the interest rate is on a downward trajectory and there may be more rate cuts going forward, given the low inflation and the government’s push for growth in the economy. Customers should only go for it once there is certainty that the interest rates have bottomed-out and from there, the cycle is going to turn upwards.
During its last quarter monetary policy review, the RBI indicated a monetary policy softening based on the state of economic growth and rate of inflation.
Analysts feel a further softening in the monetary policy depends on factors such as the inflation rate as well as growth in the current financial year. A lowering in the repo rate lowers the cost of funds for banks and hence there are expectations that lending rates on loan products will come down in the near term. However, the current 50 basis points repo rate cut will bring down the cost of funds significantly for banks leading to lower interest rates on existing home loan accounts too shortly.


Borrowers should therefore track such promotional schemes coming up from their bank to avail of lower interest rates on their existing loan schemes. The repo rate cut will further add to the pressures on banks to come up with promotional schemes and offer attractive interest rates to push new loan products.
Since the interest rates are expected to come down further for short to medium terms, borrowers should go for the floating interest rate scheme.
These interest rates are applicable for Financial Year 2015-2016 and are effective from 1st April, 2015. The interest rate on Sukanya Samriddhi Account (SSA) for 1st Quarter of Financial Year (FY) 2016-17 would be 8.6%.
He is an Independent Certified Financial Planner (CFP), engaged in blogging, financial counseling & property consultancy for the last 6 years through his firm ReLakhs Financial Services . I want to know Interest rate Fix for all term 21 year which Interest during Account Opening.
Even if the switchover charge is deducted from this, the savings would amount to Rs 11,272 a year. As in the past, the interest rate on new loans may come down more sharply and swiftly than on existing loans. Those looking at fresh home loans should scout for bargains on the rate of interest, upfront processing fee and other fees while proc essing the application.
However, the Government is going against the tide and has chosen to keep the interest rates unchanged on various savings schemes. Although this will definitely help this scheme to take off as it is giving the max interest rate, but do you smell some kind of political influence as well behind this? This happens mainly because new accounts are fresh sales and hence banks float many promotional schemes to market them. Since the RBI has given indications that further policy softening may not happen in the near term, it is a good time for those waiting for rate cuts to process their home loan applications.
It is prudent to invest a major portion of your savings in equity oriented products (like mutual funds) than to invest in the above savings schemes. I NEED TO PAY 12,500 PER MONTH AND COVER THE DIFFRENCE OF PAST 5 MONTH WHICH IS 52,500 AS WELL. I hope they will keep the interest rate of Sukanya scheme in higher bracket always in coming years as well. A rate cut happens on existing loans only when the banks get comfortable on their overall costs of funds and maintain their net interest margins. On the other hand, since borrowing from the RBI becomes cheaper, interest rates on deposits will also see a downward trend in the short to medium terms loans. Get Daily Slideshow newsletterDaily Slideshow Newsletter is the way to get the best picture shows of the day in your inbox.Subscribe nowSLIDESHOW HOMEINVESTMENTS & MARKETS SLIDESHOW HOMEREPLAYDid you like "7 productive ways to make the most of your bonus" slideshow?



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