Author: ramsreekanth

Banks PAN No’s

It is mandatory to mention the PAN No’s details of your lender to avail income tax benefit on your housing loans and to here you can find the PAN details of most of the financial institutions which are giving housing loans in the market.

Bank/Home Loan ProvidersPAN Number
Aadhar Housing FinanceAAICA4667N
Allahabad BankAACCA8464F
Andhra BankAABCA7375C
Axis Bank LimitedAAACU2414K
Bajaj Finance LimitedAABCB1518L
Bank Of Baroda (BoB)AAACB1534F
Bank Of India (BoI)AAACB0472C
Bank Of Maharashtra (BoM)AACCB0774B
BMW India Financial ServicesAADCB8986G
Canara BankAAACC6106G
Canfin Homes LimitedAAACC7241A
Central Bank Of IndiaAAACC2498P
Cholamandalam Investment And Finance Company LimitedAAACC1226H
Citi BankAAACC0462F
City Union Bank LimitedAAACC1287E
Corporation BankAAACC7245E
Corporation LimitedAAACM6533D
Cushman & Wakefield Property Advisers Pvt LtdAACCD0007B
Dahod Urban Co.Op. Bank Ltd.AAAAT2915L
DCB Bank LimitedAAACD1461F
Delhi Co-Operative Housing Finance Corp. Ltd.AAAAD0119Q
Dena BankAAACD4249B
Deutsche BankAAACD1390F
Edelweiss Housing Finance LimitedAABCE9808N
Federal BankAABCT0020H
Fullerton India Home Finance Company LimitedAABCF6064H
GIC Housing Finance LimitedAAACG2755R
Greater Noida Industrial Development AuthorityAAALG0129L
Gruh Finance LimitedAAACG7010K
HDFC Bank LimitedAAACH2702H
Housing & Urban Development Corporation Ltd.AAACH0632A
ICICI Bank LimitedAAACI1195H
ICICI Home Finance Company LtdAAACI6285N
IDBI Bank LimitedAABCI8842G
IDFC Asset Management Company LimitedAACCA3262H
India Infoline Housing Finance LtdAABCI6154K
Indiabulls Housing Finance LimitedAABCI3612A
Indian BankAAACI1607G
Indian Overseas Bank (IOB)AAACI1223J
Indusind Bank LimitedAAACI1314G
Ing VysyaAABCT0529M
Janata Sahakari Bank LtdAAAJJ0073G
Karur Vysya Bank (KVB)AAACH3962K
Kotak Mahindra Bank LimitedAAACK4409J
L&T Fincorp LimitedAAACI4598Q
L&T Housing Finance LimitedAAACW1328G
L&T Infrastructure Finance CompanyAABCL2283L
LIC Housing Finance LimitedAAACL1799C
Maratha Sahakari Bank LimitedAAAAM1672M
Oriental Bank Of CommerceAAACO0191M
PNB Housing Finance LimitedAAACP3682N
Power Finance Corporation LimitedAAACP1570H
Punjab & Sind BankAAACP1206G
Punjab National Bank (PNB)AAACP0165G
Ratnakar Bank LimitedAABCT3335M
Reliance Capital LimitedAAACR5054J
Reliance Home Loan Finance LimitedAAECR0305E
Religare Housing Development Finance Corporation LtdAAACM6533D
Repco Home Finance LimitedAACCR0209F
Saraswat Co-Operative Bank LimitedAABAT4497Q
Sardar Bhiladwala Pardi Peoples Co.Op.Bank LtdAABAS4480Q
Shriram Housing Finance LimitedAAPCS3213D
Standard Chartered BankAABCS4681D
State Bank Of Bikaner And Jaipur (SBJJ)AADCS4750R
State Bank Of Hyderabad (SBH)AADCS4009H
State Bank Of India (SBI)AAACS8577K
State Bank Of Mysore (SBM)AACCS0155P
State Bank Of PatialaAACCS0143D
State Bank Of TravancoreAAGCS9120G
Sundaram Bnp Paribas Home Finance LimitedAADCS4826J
Sundaram Finance LtdAAACS4944A
Syndicate BankAACCS4699E
Tamilnad Mercantile Bank LimitedAAACT5558K
Tata Capital Financial Services LimitedAADCT6631L
Tata Capital Housing Finance LtdAADCT0491L
Tata Capital LtdAADCP9147P
Tata Motors Finance LimitedAACCT4644A
The Greater Bombay Co Op Bank LimitedAAAFT1403C
The Karnatka Bank LimitedAABCT5589K
The Royal Bank Of ScotlandAACCA6818K
The South Indian Bank LimitedAABCT0022F
Union Bank Of IndiaAAACU0564G
United Bank Of IndiaAAACU5624P
Vijaya BankAAACV4791J
Yes Bank LimitedAAACY2068D

Corporation Bank cuts benchmark lending rate by 5 bps

PTI, 14 Mar 2019

State-owned Corporation Bank Thursday announced a cut in its benchmark lending rate by 0.05 percentage points, a move that would make home, auto and other loans cheaper.

The bank has reduced the lending rate by 5 basis points (0.05 percentage point) across all tenors up to one year.

The new rates are effective from March 15, Corporation Bank said in a regulatory filing.

The marginal cost of funds based lending rate (MCLR) for overnight and one-month tenors would be 8.05 per cent and 8.20 per cent, respectively, it said.

The MCLR for one-year tenor was slashed to 8.90 per cent from 8.95 per cent. Most of the retail loans are benchmarked against one-year MCLR.

Indian Overseas Bank cuts MCLR by up to 10 bps

NEW DELHI: State-owned Indian Overseas Bank said it has reduced the MCLR across all tenors, except overnight and one month, with effect from Sunday.

The new MCLR rates come to effect from March 10, 2019, the bank said in a regulatory filing.

The one-year tenor marginal cost based lending rate (MCLR) has been brought down by 0.10 percentage point to 8.70 per cent, the bank said.

The one-year MCLR is the benchmark against which most of the consumer loans are priced by a lender.

Among others, two- and three-year MCLRs are reduced by 0.10 percentage point each to 8.80 per cent and 8.90 per cent, respectively.

The six-month MCLR will be priced at 8.50 per cent as against 8.60 per cent earlier while for three-month tenor it has been cut to 8.45 per cent from 8.50 per cent.

Indian Bank, IOB launch special drive for home loans

PTI, 3 Jan 2014

In an attempt to target prospective home buyers, public sector lenders – Indian Bank and Indian Overseas Bank are offering home loans at interest rates of 10.20 and 10.25 per cent, respectively.

“Indian Bank is offering home loans at 10.20 per cent across various slabs irrespective of the tenure for people looking forward to build homes,” the city-based bank said in a statement.

Similarly, Indian Overseas Bank, as part of targeting women customers, is offering housing loan at 10.25 per cent, irrespective of the tenure and loan amount under the banks’ Subha Gruha scheme.

For other borrowers, the interest rates have been fixed at 10.25 per cent for loans up to Rs 75 lakh and 10.50 per cent for loans above Rs 75 lakh, it said.

Both offers from the two banks are valid up to March 31, 2014, the statement added.

Kotak Bank slashes home loan rates by 0.25%

Mumbai, Dec 24, PTI

Private sector lender Kotak Mahindra today followed State Bank of India and mortgage major HDFC by announcing a rate cut of up to 0.25 per cent on their housing loans for a limited period.

Accordingly, new home loans under Rs 75 lakh will be available at 10.25 per cent per annum, down from the earlier 10.50 per cent, while ones above Rs 75 lakh will cost 10.75 per cent as against the earlier 10.90 per cent.

The reduced interest rates will be applicable till January 31.

“The rate cut is driven largely by the scenario in the market place, a reduction in our cost of funds and our expectations from the future,” its executive vice president and head of retail assets, Sumit Bali, said announcing the rate cut.

The move follows similar ones announced by the country’s largest lender State Bank of India and mortgage major HDFC over the past week, ever since the RBI decided on a status quo in its mid quarter policy review.

When asked about the impact on margins as a result of this move, he said the rise in volumes will help the bank hold on to the current margins.

ICICI Bank cuts home loan rates

Hindustan Times, 23 Dec 2013.

India’s largest private sector lender, ICICI Bank, has cut its home loan rates for new customers by 15 basis points or 0.15 percentage points, as a part of a special scheme. It will be valid till January 31, 2014.

Under the scheme, the bank will offer home loans up to Rs. 75 lakh at an interest rate of 10.25%, while loans above Rs. 75 lakh will be charged 10.50%, the bank said in a statement on its website.

The move comes shortly after India’s largest lender, State Bank of India, and private sector lender Housing Development Finance Corp (HDFC) reduced their home loan rates a few days ago.

SBI is charging an interest rate of 10.15% for all home loans up to Rs. 75 lakh and 10.30% for loans above Rs. 75 lakh. It also announced a further 5 basis points or 0.5 percentage point discount for women borrowers. The bank was earlier charging an interest rate of 10.30% for loans up to Rs. 30 lakh and 10.50% for loans above Rs. 30 lakh.

HDFC also announced a “winter bonanza” scheme – providing home loans up to Rs. 75 lakh at 10.25%.

The rate cuts come after the RBI’s surprise decision last week to hold its key interest rates in its mid-quarter monetary policy review on December 18.

The repo rate, or the rate at which RBI lends to banks, was left unchanged at 7.75%, as RBI governor Raghuram Rajan indicated that his focus may shift to the slowing growth in the economy.

Rajan also indicated that  the bank would act again if food inflation does not translate into a significant reduction in headline inflation in the next round of data.

Banks look at women to check home loan NPA

Kumud Das, TNN, 21 Dec 2013

INDORE: Females have outnumbered their male counterparts, while approaching banks and financial institutions for seeking home loans. The simple reason being the large incentives banks are offering the females. Facing with problem of mounting NPAs (non-performing assets), bankers feel that disbursing loans to women are always safe.

In Indore alone, NPA in home loan was at 8-9% as on September 30, compared to the mark of 5-6% prevailing during the corresponding period last year.

While the country’s largest lender State Bank of India (SBI) has brought down its interest rate to 10.15%, the effective rates in case of women borrowers has been further brought down by the lender to 10.10%. In case of the mortgage lender, LIC Housing Finance, the rates for women borrowers are already lower by 0.50%, when compared to their male borrowers, at 10.25%.

LIC Housing Finance (LICHF), which was the first to lower its interest rate for its women borrowers two years ago in the name of Bhagyalakshmi scheme, has projected the target of crossing the mark of Rs 500 crore by the end of the fiscal. Senior manager, LICHF in Indore, Pradeep Chakrabarty, said, “We have already achieved the mark of Rs 325 crore and we expect to take it to Rs 500 crore by March next year as against the mark of Rs 405 crore which had been achieved by us during the last fiscal”.

Lead district manager of Indore, Satish Sant, said, “There are two direct advantages having women as borrowers. First, they rarely change their residential address and secondly, they make sure that EMI was being paid in time”.

Branch manager of recently opened all women, Bharatiya Mahila Bank in Indore, A K Dubey, said, “We are also looking for more and more women borrowers to come forward for home loans. “

Talking to TOI, chairperson of SBI, Arundhati Bhattacharya, said, “We want to encourage more women to become co-borrowers for home loan. Secondly, we want to help women entrepreneurs overcome the problem of collaeral”.

Regional manager of Bank of Baroda, R K Soni, said, “More than 50% of our home loan borrowers do have women as co-borrowers and our total outstanding to the sector as of now stands at Rs 400 crore”.

CMD of National Housing Bank, R V Verma, said, “We have recently launched a refinance scheme for banks/mortgage lenders for women borrowers in which we charge interest rate less by 0.5-0.75%. The idea is to see making homemakers as home owners too.”

State Bank of India may cut new home loan rates by 15-25 bps

19 Dec 2013, ET Bureau.

MUMBAI: State Bank of India has decided to lower home loan rates for new borrowers and offer a special discount to women, in moves prompted by the Reserve Bank of India keeping policy rates unchanged on Wednesday contrary to expectations that they would be increased.

The country’s largest bank has decided to lower rates by 15-25 basis points (bps) and raised the borrowing limit for loans at the lowest rate. One basis point is one-hundredth of a percentage point.  are expected to kick in shortly.

“The reduction in the risk weightage and poor demand for loans has been the key reason for SBI to reduce rates,” said a senior SBI official.

Move may Help Realty Sector

The move might lead to a revival of interest in the real estate sector, which has been hit by high prices amid a sluggish economy

SBI will charge 10.15% on loans up to Rs 75 lakh and 10.30% on loan amounts higher than that. Women borrowers will get a further 5 bps off. Earlier, the bank charged 10.30% for loans up to Rs 30 lakh and 10.50% for loans above that level.
The move to lower rates and offer discounts to women comes as Housing Development Finance Corporation(HDFC), the country’s biggest mortgage company, did the opposite about two weeks ago. It raised rates by 10 bps to 10.5% for loans up to Rs 30 lakh ..

“The aim is to attract customers and improve market share,” said an SBI official who did not want to be named. The decision to reduce rates had been taken at a meeting of the high-level asset liability committee, he said. SBI has a home loan book of Rs 1,30,034 crore that comprises 13.6% of the bank’s loan book.

The move to raise the borrowing limit at the minimum rate to Rs 75 lakh from Rs 30 lakh comes after RBI changed its policy on risk weightage.

In June, RBI reduced risk weightage to 50 bps for home loans up to Rs 75 lakh, and 75 bps for loans above 75 lakh. Earlier, risk weightage was in three slabs – 50 bps for loans up to Rs 30 lakh, 75 bps for loans up 75 lakh and 125 bps for loans above Rs 75 lakh

ICICI Bank’s special festive offers for NRIs

Mumbai, Oct. 22:

ICICI Bank, India’s largest private sector bank, is offering flat processing fees on home loan to its Non-Resident Indian (NRIs) customers for the festive season.

The bank will charge a processing fee of Rs 5,000 on home loans up to Rs 75 lakh and Rs 10,000 on home loans above Rs 75 lakh, this up to October 31, 2013.

On loans below Rs 10 lakh, ICICI bank will charge a processing fee of 0.5 per cent on the loan amount. The bank also has a referral arrangement with ICICI Home Finance Co Ltd which provides property search facility in India.

Further, the private lender has also partnered with Thyrocare Technologies to give discounts on health check-ups offering 77 medical tests worth Rs 5,000 for Rs 1,500 for its NRI customers and their family members, the bank said.

Moreover, the bank’s NRI customers will get preferential rates on foreign currency conversion and a ‘no minimum balance savings accounts’ to resident family members of NRI customers

Rajiv Sabharwal, Executive Director, ICICI Bank, said, “These offers have been designed based on customer insights derived from serving 1.5 million NRI customers across more than 150 countries and processing over 2 lakh NRI transactions monthly.”

Syndicate Bank cuts interest rate on vehicle, consumer durable loans

Bangalore, Oct 22:  Business Line
Syndicate Bank has slashed the interest rate on vehicle loans, consumer durable loans and light and heavy commercial vehicle loans.

To commemorate its Foundation Day, the bank is offering home loans at 10.25 per cent (base rate) for both the existing and new borrowers irrespective of the loan amount.

Interest rate on two-wheeler loans for home loan borrowers has been reduced from 12.25 per cent to 11.5 per cent (base rate + 1.25 per cent). For others, it is 12 per cent (base rate + 1.75 per cent).

Interest rate on four-wheeler loans for home loan borrowers has been brought down from 10.9 per cent to 10.4 per cent (base rate + 0.15 per cent). Other borrowers will be charged at 10.75 per cent (base rate + 0.50 per cent).

Interest rate on loans to consumer durables has been brought down from 15 per cent to 11.75 per cent (base rate + 1.5 per cent) for home loan borrowers. For others, it is 12.75 per cent (base rate + 2.50 per cent).

Interest rate on loans to light and heavy commercial vehicles has also been brought down from 12.75 per cent to 11.5 per cent.

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