A home loan transfer (also known as refinancing or balance transfer) is an option that most individuals opt for to avail the benefit from lower interest rates prevalent in the market.

Usually the existing borrower of a bank who is about 2 or more years into his loan tenure does not get the benefit of reducing interest rates in the market. RBI has been insisting on lower interest benefits to be passed on to the existing borrowers as well but it seldom happens but is expected to become a reality in the base rate regime. Individuals looking for better interest rates could discuss with their bank on re-negotiating the interest rates based on the good repayment track record etc. If the bank is not amenable, then they could shift to another bank which offers a lower interest rate prevalent in the market.

How does the process work

You will need to submit a letter to the existing lender requesting a loan transfer. Based on your request, the bank will give a consent letter / NOC and a statement mentioning the outstanding amount. This needs to be provided to the new lender who then sanctions your loan amount to the old lender for an account closure.

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A seemingly contradictory line up of recent economic indicators has been drawing a lot of attention as of late, leaving in its wake a population of economists and economic analysts who have suddenly been struck dumbfounded. They are, after all, dealing with an economy that just refuses to stick to their models and predictions.

Here is a run-down of some of the more “perplexing” measures of the past month:

• The US Bureau of Labor Statistics released its April Employment Situation Report in which it indicated that non-farm payroll employment rose by 244,000 in April . According to the BLS these job gains occurred in several service sector industries, as well as manufacturing, and mining. But this good news was tempered by the announcement within the same report that the unemployment rate has also increased to 9.0 percent, up from 8.8 percent in March.

• The National Federation of independent Business reported that its small business optimism index fell for the second straight month in April to 91.2 from 91.9 in March.

• The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose more than foretasted in May to 72.4, a three-month high, from a final reading of 69.8 in April. The

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Dell reported a stronger-than-expected 177% improvement in first-quarter profit, helped by higher commercial sales and modest expenses, leading the second-biggest U.S. PC maker to lift its full-year view.

The computer maker posted net income of $945 million, or 50 cents a share, compared with $341 million, or 17 cents a share, in the same quarter last year. Excluding one-time items, the company earned 55 cents a share, widely ahead of average analyst estimates polled by Thomson Reuters of 44 cents.

Revenue for the three months ended April 29 was $15 billion, up slightly from $14.9 billion a year ago and missing the Street’s view of $15.41 billion.

“We’re off to a solid start in our fiscal year 2012,” Dell CEO Michael Dell said in a statement. “Our substantial profit increase demonstrates that our strategy is working and our execution is improving.”

Sales were fueled by a 3% sales improvement, to $12 billion, in its commercial business, with commercial services climbing 6%. Enterprise solutions and services increased 5% during the quarter and sales in its severs and networking unit grew 11%.

The company’s large enterprise sector grew 11.3% to a record operating income of $504 million, helped by growing demand for desktop and laptop computers, and its small and medium business reached a record profit with a 7% improvement in revenue. The results w

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‘Move Money’ is the Treasurer’s initiative to help tax-payer funds get directed to Massachusetts community banks, such as Century Bank. Previously this fund used to be deposited with large out-of-state banks. The funds can help to stimulate ‘growth engines’ of MSMEs. Small businesses can find the much needed finance for its expansion.

Century has joined the mission to help small businesses grow. Thirty banks have already signed to this innovative program. Treasurer Steven Grossman says, “Joining with Century Bank is another great step forward for the Small Business Banking Partnership.” The partnership will definitely bring more loans to Massachusetts banks that will later on be directed to Massachusetts small businesses.

Besides, California small business owners are making use of social media as a platform to reach out to more number of customers and to better market products. This is according to the findings of a survey conducted by Citibank on small businesses. The survey also found that 67 percent California’s small business owners is going to increase their marketing budgets that includes advertising for media, public relations and other promotional work so as to attract more number of businesses this year. So, they are go

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