Planning to buy a house? Looking for a home loan? Before you take the plunge, it is important that you understand the home loan eligibility criteria for all banks and financial institutions. You can save yourself from getting your application rejected if you know you are an eligible candidate for the loan. You can also save time while applying a loan if you know you are eligible for the loan.If you meet the criteria set by banks for home loans, you make for a strong application. Most banks and lenders have a different set of criteria for judging applicants. However, some factors are common among all lenders such as age, employment status and credit score. In the following sections we give you a breakdown of these criteria. Home Loan Eligibility for All Banks in India The housing loan eligibility criteria varies from one bank to another. However, there are some factors that are common across banks and lenders.Close Most banks offer loans to people who fall in the age bracket of 21 … [Read more...] about Home Loan eligibility criteria
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Once you apply for a home loan from a bank or a non-banking finance company (NBFC), one of the things you are required to constantly check up on is your home loan application status. You can do this through the bank or NBFC’s online portal or an app that can be downloaded on your mobile phone. This also increases the transparency on the bank’s part, as you know your situation as to whether your home loan will be accepted or rejected.Each bank and non-banking finance company has a specific set of requirements when it comes to checking your home loan application status. However, the following steps are commonClose -Your will be required to visit the bank or NBFC’s website related news Hybrid Funds: Get complete guide on Hybrid Mutual Fund Home Loan types: Different types of Hosing Loan in India -Here, you go to the home loan-In the home loan section, you can click on the home loan status-You are usually redirected to a new page where you enter your … [Read more...] about Home Loan status: How to check Home Loan application status?
Due to the NBFC crisis, fund houses have become cautious in their debt investment strategy and are majorly investing in safe instruments.The exposure of mutual funds into the various debt instruments of the NBFC sector has declined while the exposure of corporate debt paper saw a notable increase in October.According to a report by CARE Ratings, exposure of mutual funds to non-banking financial company (NBFC) stood at Rs 1.86 lakh crore in October 2019, a drop of Rs 79,000 crore since July 2018, when the NBFC crisis surfaced.Close While the amount has reduced, the percentage share also declined from 19 percent in July 2018 to 12.8 percent in October 2019.Himadri BuchAssistant Editor|Moneycontrol.com SEBI disciplines valuation treatment of unrated securitiesIndiabulls MF's Raghav Iyengar tipped to join Axis MF as Chief Business OfficerDreamery to be sold in general trade, Future Consumer’s dairy brand increases reachTypically, the financial services sector, including NBFCs and … [Read more...] about MFs cut exposure to NBFCs, load up on corporate debt papers
State-run Bank of Baroda-owned Baroda Asset Management Company (AMC) and BNP Paribas AMC on Oct 11 announced merger to form an asset management joint venture.However, the merger is subject to regulatory and other legal approvals.BNP Paribas Asset Management Company is a subsidiary of BNP Paribas Asset Management Asia.Close It is a merger of two fund houses and not an acquisition. However, the press statement did not make a mention of how much percentage stake each fund house will be holding.Himadri BuchAssistant Editor|Moneycontrol.com MFs cut exposure to NBFCs, load up on corporate debt papersSEBI disciplines valuation treatment of unrated securitiesIndiabulls MF's Raghav Iyengar tipped to join Axis MF as Chief Business OfficerThe merger will allow both the companies to leverage each other's strengths and offer products for retail and institutional clients, BoB said giving any financial details of the deal.BoB mutual fund (MF) has current assets under management (AUM) of Rs … [Read more...] about Mutual funds wrap: Would SEBI direct BoB and BNP Paribas MFs to consolidate schemes post merger?
Union Bank of India on November 14 said that loan growth is likely to pick up in the second half though it has pared its year-end target to 7-9 percent from 9-11 percent as set earlier.The bank reported 1.7 percent growth in total advances in the second quarter this financial year. Union Bank of India MD and CEO Rajkiran Rai G said that there is some uptick in the third quarter and credit growth may increase to 5 percent by December-end.In the July-September quarter, the bank posted growth of 2.5 percent in domestic advances, driven by 15.7 percent growth in retail loans.Close Rai said that the bank disbursed Rs 12,000 crore of fresh loans under the government's credit outreach programme held in October. These include loans given to retail, MSME, agriculture and under the Mudra scheme. related news SAIL logs Rs 343 cr loss in Q2 Import-driven industries to get special financial package: Nitin Gadkari Exclusive | Canada's CPPIB, Brookfield eyeing more than $1 bn investment in … [Read more...] about Union Bank of India sees credit pick up in H2, pares credit growth target to 7-9%