Updated as per RBI master circular dated April 2, 2024 As per RBI guidelines, the following entities/offices are not eligible for bank finance. Other important home-related articles: IMPORTANT PRE-SANCTION HOME-LOAN REGULATIONS LAY DOWN BY RBI HOME LOAN INTEREST: FLOATING OR FIXED RATES WHICH IS BETTER FOR YOU? HOW DOES A BANK DECIDE YOUR HOME LOAN…
Updated as per RBI master circular dated April 2, 2024 According to the RBI master circular, the Central Bank has been observing that some banks have introduced certain innovative Housing Loan Schemes in association with developers/builders, such as upfront disbursal of sanctioned individual housing loans to the builders without linking the disbursals to various stages…
Updated as per RBI master circular dated April 2, 2024 In light of the observations of the Delhi High Court on unauthorized construction, Banks/FIs before extending credit facilities shall follow the RBI guidelines stated below. RBI NORMS ON HOUSING FINANCES TO INDIVIDUALS FOR DIFFERENT PURPOSES NORMS ON RESETTING OF FLOATING RATE OF INTEREST ON EMI-BASED…
RBI has provided instructions for the reset of the floating interest rate on equated monthly installments (EMI) vide circular bearing reference number DOR.MCS.REC.32/01.01.003/2023-24 dated August 18, 2023. According to these guidelines, Regulated Entities (REs) are permitted to offer various types of loans with either fixed or variable interest rates. However, when granting Equated Monthly Installment…