HOUSING LOANS
Stable economy boosts India's housing market to new heights, scales 11-year peak
The housing property market across India is witnessing substantial growth in sales volumes, driven by stable economic conditions and continued confidence, even amidst higher mortgage rates. This uptrend is led by the top eight cities, including Mumbai, Delhi-NCR, Bengaluru, Pune, and Hyderabad, propelling the country’s residential real estate market to an 11-year high in sales volumes during the first half of the year.
Indiabulls Housing Finance rebrands itself, name changed to Sammaan Capital
Indiabulls Housing Finance has rebranded itself as Sammaan Capital after receiving the necessary approvals from regulatory authorities. This includes the Certificate of Incorporation from the Registrar of Companies and the Certificate of Registration as an NBFC-ICC (Investment and Credit Company) from the Reserve Bank of India.
Bajaj Housing Finance launches Sambhav Home Loans for first-time home buyers
Borrowers will have attractive interest rates with affordable EMIs and the option to choose a repayment tenor of up to 20 years. With this, Bajaj Housing Finance will offer a full suit of offerings in the housing finance sector covering all customer categories.
ESAF Small Finance Bank creates micro banking vertical with 5,200 staff
ESAF Small Finance Bank has absorbed 5,200 employees from ESAF Swasraya Multi-State Agro Co-operative Society Ltd (ESMACO) as part of a strategic business restructuring. The bank will now directly manage the microloan portfolio, which was previously managed by ESMACO through banking outlets. The micro banking vertical will primarily serve the needs of the rural population through micro-loans, agriculture loans, vehicle loans, and home loans.
Personal loans dearer post RBI risk nudge
Banks adapt to RBI's risk weight changes by adjusting rates and enhancing capital adequacy. The pricing of new loans reflects increased risk, ensuring stability in unsecured lending. Tightened underwriting standards support sustained growth and portfolio quality, aligning with regulatory directives to manage loan risks effectively.
Retail loans moderate for the 10th straight month
The Reserve Bank of India reported that bank lending to the retail sector moderated for the tenth consecutive month in May, reaching 17.8% from 19.1% a year ago. Corporate loans grew faster at 8.9% compared to 6% in May 2023. Non-food bank credit saw a 16.2% growth in May 2024 compared to 15.5% a year ago.
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Sundaram Home Finance launches emerging business segment; Rs 300 cr target disbursal
Expecting it to be a growth driver for the company, Sundaram Home Finance Managing Director and CEO Lakshminarayanan Duraiswamy said he has plans to open around 20 branches in the Emerging Business segment in Tamil Nadu, Telangana and Andhra Pradesh and add another 200 employees.
Loan demand for rural homes, tractors may rise on govt push
"We believe a likely surge in rural credit demand, higher affordability and government push toward financial inclusion with ease of regulations in the microfinance sector. A likely credit-linked subsidy scheme (CLSS) in the Pradhan Mantri Awas Yojana would drive credit growth going forward," ICICI Securities said in a report.
Should you buy a house now before property prices soar or wait for home loan interest rates to drop?
A favourable wealth effect, driven by a sharp rise in the equity markets, is enticing many first-time homebuy ers to take the plunge, while affluent buyers are looking for second homes. If you are a fence-sitter, still unsure about when to buy a house, this market presents a big dilemma. Is it the right time to buy a house?
Should you buy a house now or rent it? Key factors that will help you to decide
While property market dynamics play a big role in effecting this decision, equally important is your personal financial situation and lifestage. There are other factors to consider. If you are thinking of buying a house, here the key things you need to check.
Builders want reduction in repo rate in RBI's next monetary policy to boost housing sales
Real estate developers urged the RBI to lower the repo rate in the upcoming monetary policy to reduce home loan interest rates and stimulate housing demand, as the RBI maintained the rate at 6.50%. Industry experts anticipate potential rate cuts in the future to boost the real estate sector further amid strong market performance.
Heatwave shaves 2% off loan collections in May
Soaring temperatures and elections impacted loan collections in May, with lenders experiencing a drop in efficiency. They expect a rebound with the onset of the monsoon season.
Home loan borrowers may have repaid higher amounts
In FY23, for instance, the combined outstanding home loan portfolio of public sector and private banks and housing finance companies, which account for a big majority of the home loan market in the country was, Rs 3.62 lakh crore. But disbursements were much higher - at Rs 8.08 lakh crore. In terms of growth, while the outstanding portfolio grew 16%, the disbursements expanded 20%, according to the data released by the National Housing Bank.
Aadhar Housing Finance aims 20% AUM growth in FY25
Aadhar, 76% owned by Blackstone Group Company BCP Topco VII Pte, has a robust asset quality with gross non-performing assets being at just a tad over 1% at the end of March. That compares with 1.16% a year ago.
PhonePe launches secured loans in partnership with a bunch of NBFCs
PhonePe, a Bengaluru based fintech major, has launched secured loan products in partnership with non-banking finance companies like Tata Capital and L&T Finance. The Walmart owned company is offering six credit products to its customers.
Indians pay more in down payments and home loan EMIs than Singaporeans! Entrepreneur explains the math
Entrepreneur Akshat Shrivastava compares buying a house in Singapore and India. In Singapore, a 1 million SGD house requires 27% upfront payment with a 4% home loan interest rate. In India, a 2.56 crore house demands 30% upfront payment and 8-9% home loan EMI.
Should you buy a second house with a loan?
The key consideration in making this decision is to assess how it will impact their financial plan and goals. Shoaib or his wife might want to pursue alternative career options, take a break, or start their own business. They must ensure that they are not forced to continue with their jobs against their will because they find themselves in debt.
Indiabulls Housing Finance Q4 Results: Profit rises 23% YoY to Rs 320 crore
The mortgage lender's operating profit jumped 34% to Rs 722 crore, driven by a 31% increase in net interest income to Rs 964 crore. The company's board proposed a final dividend of Rs 2 per share, representing a 100% payout on the Rs 2 face value for FY 2023-24.
Growth to come from MSME, affordable housing: Rajesh Sharma, Capri Global
Even the current risk rate have been increased, cost of fund is going up. The NBFC is only one option to pass on that cost to the customer
Flat stuck in a delayed or stalled real estate project? Six things aggrieved homebuyers can do
Homebuyers stuck in stalled real estate projects face financial strain and uncertainty. They pay EMIs and rent while bearing the loss of opportunity cost. If you have property in a delayed or stalled real estate project, here are some things you can do as a home buyer.
PNB Housing Finance expects 17% loan growth in FY25 aided by increase in branch network
The housing finance company opened 100 branches last year, which will help in expanding business including in affordable segment.
China allocates billions of dollars to bailout its crisis-hit property sector
China has taken decisive measures to tackle the crisis in its property sector, which has been a crucial driver of its economic growth. The People's Bank of China has announced a 300-billion-yuan relending facility to support government-subsidized housing projects. Local state-owned enterprises are encouraged to purchase completed commercial homes to provide affordable housing. Commercial banks have issued significant loans for real estate development and individual housing.
LIC Housing Finance eyes lower double digit loan portfolio growth in FY25
LIC Housing Finance targets "lower double-digit" loan portfolio growth this fiscal, focusing on affordable housing, says MD Tribhuwan Adhikari. March saw a 4.3% y-o-y loan portfolio rise to Rs 2.87 lakh crore. Annual loan disbursement dropped 8% to Rs 58,937 crore, partly due to cautious lending amid competition from other lenders.
Expecting double digit disbursement and loan book growth this year: Tribhuwan Adhikari, LIC Housing Finance
I would expect this year that we would be showing a good disbursement growth in the double digits, as well as the loan book growth of double digit.
China considers government purchases of unsold homes: Reports
China plans for local governments to buy unsold homes to address the property crisis, with the State Council evaluating feasibility and awaiting a decision from the country's leaders.
HDFC Bank home loan, car loan, personal loan borrowers, check HDFC Bank latest lending rates here
The Marginal Cost of the Fund-Based Lending Rate or the MCLR is the minimum interest rate that a financial institution needs to charge for a specific loan. Check latest MCLR, base rate, benchmark PLR offered by HDFC Bank.
Monetary, prudential steps' tango helps cut home loan NPAs
Prudential measures like risk weights and loan-to-value adjustments, along with interest rates, will be more effective in repayments of loans. This will also help in housing credit growth and controlling the asset quality of banks' home loan portfolios, it shows.
PNB Housing Finance eyes over 17% growth in FY25 loan book
Managing director Girish Kousgi told ET that the lender is aiming to grow its retail book by 17% in FY25, while the overall loan growth is likely to be more when it resumes corporate lending.
PNB Housing Finance aims to grow business by 17% in FY25, the highest rate since 2019
PNB Housing Finance targets significant loan portfolio growth in FY25, driven by retail lending focus. The lender aims to balance affordable, emerging, and prime segments, with strategic branch distribution and varied interest rates for different loan types.
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