The interim budget has laid the ground for cheaper home loans and lower interest rates in general, according to lenders. The lower fiscal deficit has meant borrowing is almost Rs 1 lakh crore lower than expected. The Centre is seen as having put subtle pressure on RBI to boost liquidity and soften interest rates. Financiers are also expecting home loans to get cheaper because of the two affordable housing schemes the government announced.
Real estate portal Housing.com has decided to make a strategic investment in Easiloan, a fintech startup that operates as an online marketplace for home loans. With collaborations with over 20 banks in India, Easiloan offers personalised and end-to-end home loan solutions. The investment details have not been disclosed. This partnership is expected to enhance Housing.com’s offerings in the real estate market.
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The Finance Ministry has given its approval to a Rs 60,000 crore interest subsidy scheme on home loans for the urban poor, according to sources. This scheme aims to provide affordable housing to the economically weaker sections and low-income groups. The subsidy will help reduce the monthly installments for home buyers and boost the real estate sector. Read more to know about this government initiative for the urban poor.
