SBI interest rates on Home loan.
2011-12 13.25%
Today 6.8%
A reduction of 48% in interest rates on Home loan, so that a person belonging from middle-class can buy their elusive dream house by paying 37% less EMI
2011-12 13.25%
Today 6.8%
A reduction of 48% in interest rates on Home loan, so that a person belonging from middle-class can buy their elusive dream house by paying 37% less EMI
Modi Govt brought down 10 yr Govt Bond Yield from 12% to 6%, bringing cost of capital down.
13% Home loans got re-priced at 6.7%. The car loan, priced at 15% earlier, became available at 7.5% giving a big push to retail lending, starting a virtuous cycle in the economy
13% Home loans got re-priced at 6.7%. The car loan, priced at 15% earlier, became available at 7.5% giving a big push to retail lending, starting a virtuous cycle in the economy
Housing is a basic necessity and not a luxury. Most middle-income ppl who take loans to buy a house are genuine end-users and intend to stay in the house that they purchase.
The home loan to GDP ratio in India is only 11% compared to peer countries 30% or advanced countries 60%
The home loan to GDP ratio in India is only 11% compared to peer countries 30% or advanced countries 60%
2/3 of India’s population is below 35 yrs & unlike the west, in India, people do not buy a home when they are in their 20s. The average age of a first-time home buyer in India is about 39 yrs.
This means that 2/3 of the population has not even contemplated buying a house yet
This means that 2/3 of the population has not even contemplated buying a house yet
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