( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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HOUSING LOAN: A CUSTOMER CENTRIC STUDY WITH SPECIAL REFERENCE TO HDFC BANK ERNAKULAM

    1 Author(s):  MS. NINU ROSE

Vol -  10, Issue- 12 ,         Page(s) : 33 - 47  (2019 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

Every citizen of the country dreams of having his own house. Home is a basic need of a human being; it is an important facet of economic development. The dream house is not very far away with home loan, which will fulfill the dream into reality. Today, home loans are available in the market at very low interest rates that meets the demands of many home buyers. A home represents the largest asset that typically people have and this is why home loans have such a huge impact in the loan market today. When a person purchases a home, he or she will be investing a huge amount of cash. When getting a home loan, the individuals should consider taking care of different aspects related to the home loan. Over the year, however banks have realized that while the demand for housing loan is tremendous, there is no substitute for prudent lending policies. Some banks have withdrawn from the housing loan market after being saddled with an unduly high amount of non-performing loans. Further, the Reserve Bank of India has sounded several warnings to banks directing them to exercise caution in lending for housing finance. There are different types of home loans tailored to meet customer needs like home purchase loans, home improvement loans, home extension loans, home conversion loans, land purchase loans, bridge loans and mortgage loans offered by public and private sector banks.

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