Urban Money Blogs

Base Rate: Why It's Important in Decision Making
March 27, 2023

Buying a home is one of the most significant investments you'll make in your lifetime, and choosing the right home loan can make all the difference. The base rate is one crucial factor that impacts your home loan interest rate. The base rate is the minimum interest rate set by…

Category:Home Loan Archive
Project Completion Certificate
March 24, 2023

In the real-estate sector, completion of the project is a significant achievement, whether it’s a residential building, commercial space or any other infrastructure. The project is considered complete only after obtaining the Project Completion Certificate (PCC). It is a crucial document that certifies the completion of a project in compliance…

Category:Home Loan Archive
Conveyance Deed: Definition, Purpose, and Important Considerations
March 14, 2023

A conveyance deed is a legal document that transfers property ownership from one person or entity to another. This document is an essential part of buying or selling a property. The conveyance deed contains details about the property, such as its location, boundaries, and description. It also includes the names…

Category:Home Loan Archive
Commencement Certificate for Construction Project
March 14, 2023

A Commencement Certificate is a legal document that a local government or municipal corporation issues granting permission for the commencement of construction of a building or a project. It is sometimes referred to as a Building Commencement Certificate (BCC) or a Construction Commencement Certificate (CCC). The Commencement Certificate serves as…

Category:Home Loan Archive
Bank of Baroda Reduces Home Loan Rates to 8.5%
March 07, 2023

Bank of Baroda, also known as BOB, recently announced a reduction in home loan rates to 8.5%. This move is part of the bank's effort to attract more customers in the highly competitive Indian banking market. The new Bank of Baroda Home Loan interest rate is applicable to all housing…

Category:Financial News
Money Market Instruments in India
March 07, 2023

More often than not, individuals require funds on a short-term basis and Money Market Instruments provide a platform for investors to create short-term wealth. Investors do so by putting a safe deposit in short-term debt securities such as commercial paper. Money Market Instruments require investments for minimum tenure to provide…

Category:Mutual Funds Archive
Government Housing Scheme in India
February 23, 2023

The Government of India has launched several housing schemes to provide affordable housing solutions to the economically weaker sections of society. These initiatives have been introduced to address the growing housing shortage and improve the standard of living for individuals and families in need of adequate housing. The schemes offer…

Category:Home Loan Archive
Home Loans for Rural Areas in India
February 15, 2023

Assuring affordable housing for all is a goal of the Indian government made attainable by home loans for rural areas. These loans have unique characteristics including zero to extremely low processing fees, open eligibility requirements, and minimum paperwork requirements. Maximum repayment terms of up to 30 years are available, with…

Category:Home Loan Archive
Top Factors Contributing to a Low CIBIL Score
February 13, 2023

When a borrower approaches a bank for a loan or credit card, the lender first runs a credit check to determine the applicant’s creditworthiness. If the borrower’s CIBIL (Credit Information Bureau India Limited) score is poor, the bank may refuse to offer a loan or credit card. Even if the…

Category:CIBIL Score Archive
Repo Rate Stands at 6.50% post 0.25% Hike, Announces RBI
February 08, 2023

The Monetary Policy Committee (MPC) of India met for the first time since the Union Budget 2023 was delivered by the Indian Finance Minister, Nirmala Sitharman. The MPC meeting went from February 6th to February 8th, delivering the news of the repo rate hike by 0.25 basis points (BPS). This…

Category:Financial News