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HOW BAD ARE OUR BANKS?
There have been talks about sharp deterioration of the quality of assets of Indian banks. Many analysts fear that stressed assets, or the so-called non-performing assets (NPAs), of the banking sector will rise as the economy slows and interest rates rise. When NPAs rise, banks are hit hard as they do not earn any interest on them, and on top of that, they need to set aside money for bad assets. This... [Read more]
No rush to refinance home loans
A price war between the major banks to secure new mortgage customers hasn’t resulted in a rush of borrowers seeking to refinance their home loans, a mortgage broker says. At the same time, another home loan provider is warning homeowners to read the fine print of their existing mortgage carefully before trying to take advantage of the federal government’s ban on mortgage exit fees. A national... [Read more]
Electronic payments can control black money
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Double digit loan rates to make home less sweet
Customers with floating rate of home loans have started facing the heat as the interest on home loans goes up by 50-75 basis points. Most banks have informed their customers about revision in the interest rates. Interest rate on home loans is now at minimum 10 %, with most banks increasing rates. Most banks are charging 10-10.5 % interest on home loans for loan below Rs 25 lakh. Interest rate is high... [Read more]
YES Bank enters into a planned grouping with DHFL
YES BANK has signed a Memorandum of Understanding with Dewan Housing Finance Corporation Limited (DHFL), a leading housing finance group for distribution of Home Loans to all YES BANK customers. In the first phase, this joint product will be targeted to customers through the 60 main branches of YES BANK across 25 cities in India. DHFL will offer the booked assets to YES BANK for participation through... [Read more]
