Urban Money Blogs

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
Budget 2023: Compare New vs Old Tax Regime for Best Option
February 08, 2023

Finance Minister Nirmala Sitharaman has released the first Budget for Amrit Kaal 2023-24, which promises to be a budget like no other. While continuing the plans outlined in the previous Budget, Sitharaman outlines a plan for promoting sustained economic growth for the next 25 years as India aims to reach…

Category:Financial News
Home Loan Brokers: Find the Best Mortgage for Your Dream Home
February 06, 2023

Every borrower wants to unlock a great deal on their home loan, whether trying to buy their first house, their next piece of real estate or refinance their existing home loan. Access to the right tools and obtaining support from the right people can make a huge impact, regardless of…

Category:Home Loan Archive
Government Increasing PMAY Funds to INR 79,000 Crore in Budget 2023
February 03, 2023

Finance Minister of India, Nirmala Sitharaman, in her Union Budget 2023 speech, announced that the Pradhan Mantri Awas Yojana 2023 is being allocated funds worth INR79,000 crores. This 66% hike from the last year’s allocation of INR 48,000 crores is perceived as the Indian Government’s commitment to ensure the building…

Category:Financial News
Pradhan Mantri Awas Yojana | PM Awas Yojana 2024:25
February 03, 2023

In the latest update made by Finance Minister in the Union Budget 2024-25, Pradhan Mantri Awas Yojana received a major boost in fund assistance to 66%. This translates to the scheme receiving INR 79,000 Crores. Additionally, as per officials, Pradhan Mantri Awas Yojana, which was initially aimed at providing housing…

Category:Home Loan Archive