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.
UCO Bank to asses the drop in its net interest rate
UCO Bank CMD, S K Goel said in an interview that the bank needs to focus on drop in its net interest rate margin (NIM), decline in share of low-cost deposits [current account and savings account (CASA) deposits] and rise in gross non performing assets (NPApnaloan.com Research Bureau
12 Sep 2007
UCO Bank CMD, S K Goel said in an interview that the bank needs to focus on the drop in its net interest rate margin (NIM), decline in share of low-cost deposits like current account and savings account (CASA) deposits, and rise in gross non performing assets (NPAs).
In an interview to Business Standard, Goel said that the current and saving deposits have slipped below 27 per cent from 32 per cent. The bank also launched a CASA campaign to increase the deposit base; it started from September 1.
With the launch of the campaign, the CASA deposit share is expected to reach 30 per cent by March 2008 and 32 per cent by June.
NIM had dipped to 2.42 per cent and the target set is to take the NIM to, at least to 2.80 per cent by March 2008. The bank has also seen substantial increase in non-performing assets. The gross NPAs stand at 3.85 per cent and net NPAs are at 2.3 per cent. The bank intends to bring down the level of gross NPAs to around 2 per cent and net NPAs to 1 per cent by September 2008.
UCO bank has decided to focus on recovery of dues, especially on retail loans. It has two general managers and 300 employees on this task. Till August 2007, the bank recovered about Rs 171 crore.