Four out of the six members of the Monetary Policy Committee voted in favour of a 25 Basis Points Cut in Repo Rate. Banks need to do more to pass on lower rates to customers: RBI governor GDP growth projected at 7.2% for financial year 2019-20, says RBI The Reserve Bank of India (RBI) on Thursday cut its key interest rate by 25 basis points or 0.25 % to 6 %, in a widely expected move to propel...
HIGHLIGHTS The bank has also grown the number of its mortgage sourcing offices by 50% to 1,500 in FY19 in a bid to achieve its target of Rs 2 lakh crore home loan portfolio by March 2020 ICICI Bank’s home loan portfolio at Rs 1.7 lakh crore has grown 19% year-on-year as on December 31, 2018 MUMBAI: ICICI Bank has introduced digital home loans and top-ups where customers can get an instant...
HIGHLIGHTS For the payment of a small premium, the IMGC will guarantee repayment of 20% of the outstanding loan The one-time premium will range from 0.9% to 1.5% of the loan and will have to be borne by the borrower and adjusted in the EMI MUMBAI: LIC Housing Finance (LICHFL) is now offering home loans that can be repaid up to the age of 75. This follows a partnership between the housing finance...