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06th Oct 16 Loan Against property to see more stress in future: India Ratings
Loan against property may get badly effected in the next four quarters. The signs of Loan against property portfolio of NBFCs may turn bad in future and it may rise to 5 per cent according to rating firms India Ratings and Research (Ind-Ra). The reason defined here is the combination of the stagnant property prices in the large and metro cities which are the primary markets for large and medium ticket LAP and squeeze of refinancing due to risk aversion building up in some financers.
02nd Jun 16 Fullerton India launches 500th branch in the country
Fullerton India today announced the launch of its 500th branch. The new branch will be located in Dewas, Madhya Pradesh and will serve customers through an array of rural financing products that include Livelihood Advancement Loans for Women Groups, Mortgage Loans, Personal Loans, Two wheeler Loans and Enterprise Loans. The launch of Fullerton India 500th branch reinstates the company strategy to strengthen its footprint across the length and breadth of the country. With the addition of this new branch, the total number of rural branches of the company reaches 276.
12th May 16 PNB Loan Against Property Rate Cut
PNB Housing Finance has reduced interest rates on PNB Loan against property effective May 9th 2016. PNB will now offer property loans at floating rate of 11.25% onwards. Fixed rate options from PNB are now available at 11.15% onwards for 3, 5 or 10 years fixed period.
18th Jan 16 ICICI Bank mortgage portfolio crosses Rs 1 lakh crore
ICICI Bank crossed milestone of disbursing mortgage loans of over Rs 1 lakh crore and launched two new digital initiatives to simplify and quicken the assessment for new home loans
15th Dec 15 Lenders report significant jump in loans against property
Many banks or NBFC such as Bank of India, Axis Bank and IndusInd have logged double to triple digit yoy growth in percentage terms in their LAP portfolio