Benefits of Applying Online
When Banks Compete, you win.
Apply for a Home Loan at ApnaPaisa and we will match your requirements with the best offers from our network of over 400 service providers. We will get a maximum of five providers to compete for your business. WHEN BANKS COMPETE YOU WIN. You can then decide which home loan is best for you based on:
- Lowest Interest Rate
- Lowest EMI
- No Pre-payment charges
- Lowest Processing Fees
- Maximum Eligible Loan Amount
- Mandatory Documents Required
- Lowest Processing Fees
Or any other factor that is important to you.
Negotiating Tips
1) If you have a good credit record and your income is sufficient to justify the loan you can negotiate on interest rates. You can also try and get Processing fees or legal or valuation fees reduced or completely waived.
2) If you go for a floating rate loan then pre-payment charges are not payable.
3) When interest rates are high and are expected to go down you should go in for a floating rate loan as it makes no sense to lock into high fixed rates or the so called Dual rate loans where rates remain fixed for a couple of years before shifting to regular floating rate loans. Please review this decision at least once every 6 months
4) Take term insurance and critical illness and accidental disability policy for the full loan amount to make sure you or your loved ones don't have to worry about loan repayment should you die or are disabled due to a critical illness or accident. You cannot be forced to buy this policy from the insurance company chosen by the lender - you should choose your own insurer.
Public sector banks to see increase in bad loans: ICRA
Public sector banks to see increase in bad loans: ICRAApnaloan.com Research Bureau
10 Aug 2007
A report by the ratings firm ICRA revealed that public sector banks (PSBA's) may
see a 4-5.5 per cent increase in their level of bad loans over the next three
years from the 2.8 per cent at the end of March 2007. This has been accounted by
the higher defaults in their retail and corporate portfolios.
In consequence, the banks may have to make 100 basis points higher incremental
provisioning over the medium term to maintain their net non-performing assets
(NPA) levels reasonably low.
The report expects a default to be at around 2 to 3 per cent of advances,
against 1.77 per cent at the end of 2006-07, resulting in the gross NPA level
moving up to 4-5.5 per cent by March 2010.
Housing loans, which account for half of the retail advances, are likely to see
higher defaults as public sector banks increased the equated monthly
installments following a rise in interest rates.