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Home loan EMI to increase by 15 per cent

Discussion in 'News' started by real_buzz, Oct 12, 2011.

  1. real_buzz Moderator

    Home loan EMI to increase by 15 per cent because of the increased interest rates. This is going to increase the load on borrower by Rs 6000 crore. As per a latest report by crisil, it is increase the number of bad loans also.

    Due to high inflation rate, Reserve bank of India has increased interest rate 12 times in last 18 months. This includes a hike of 200-250 bps points, this results in 15 per cent rise in home loan EMIs.

    In last two years, lots of banks and housing finance companies have introduced teaser loan schemes. Now banks are going to reset these schemes which will result in EMI hike. So a lot of borrowers who have gone for teaser loans are going to be affected by that.
  2. deemed New Member

    it's always better to go for less amount of loan while purchasing a house. Interest rates in India are going to keep on rising for some time.
  3. zameen Member

    Interest rates in India are going to stay up for some more time, probably few years, RBI will keep increasing them, therefore real estate EMIs will also increase, so i think it's better to go less amount of home loan. Invest from your side as much as possible.
  4. real_buzz Moderator

    This is not a good news for many
  5. russel wayne New Member

    It seem that is a bad new for most of the borrower some people are always looking for a low interest.
  6. Leon D. Mason New Member

    Really a bad news for every people who are looking for a low interest.
  7. Kunal Kapoor Member

    Its Actually Bad and Sad News.....for every people.

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