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Monday, December 15, 2008

Details of the incentives for home loan borrowers up to Rs 20 lakh likely to be made public today

A slew of measures to provide relief to home loan borrowers up to Rs 5 lakh and in the Rs 5-20 lakh bracket are on the cards, including cuts in interest rates and exemption from processing fees.

The bankers are understood to have received an assurance from the policy makers to relax norms related to risk-weights and margin requirements for home loans, which would enable banks to lend more in these categories.
To read more, please, visit - The Hindu Business Line

No pre-payment penalty:

Presently a pre payment penalty is charged from the borrower who decides to pre pay his loan before the stipulated tenure. Generally banks charge somewhere between 1% and 3% of the outstanding loan amount as a pre payment penalty.

"We are considering a proposal to either completely waive the pre-payment penalty or reduce it significantly," said a Chairman with a PSU bank.
To read more, please, visit - RupeeTimes

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