AU Small Finance Bank, which was formed a little over two years ago, said it has started offering interest of 6.5% for its savings account holders with balance above Rs 1 lakh. This makes the bank the only one to offer such a high interest rate on its savings account. The bank was earlier giving […]
Bank of Baroda, India’s second biggest bank by assets, raised its lending interest rate by 10 basis points across all tenures up to one year. With this, the one-year marginal cost of funds based lending rates or MCLR has been raised to 8.4% from 8.3% with effect from tomorrow, Apr 7. The six-month rate has […]
Axis Bank has again increased the rate of interest that will be charged for new loans, this time by one-tenths of a percentage. The hike comes a month after a 0.05 percentage point increase in January, and ten days after rival HDFC Bank increased its lending rate. The new interest rates will be applicable to […]
Bank of Baroda, one of the largest banks in India, has slashed the base rate and benchmark prime lending rates in keeping with the decline in inflation and loan demand. The company slashed the base rate to 9.15% from 9.5% with effect from Oct 1. Base rate is the minimum rate set by the Reserve […]
State Bank of India, the largest Home Loan Provider in India has reduced interest rates of high value home loans. Home Loans above Rs. 75 lakhs will now be cheaper by one-tenth of a percentage from 15 June, 2017. The revised interest rates will be 8.55% p.a. for salaried women borrowers. For others the rate […]
Broking and financial firm HDFC Securities Ltd said it does not expect the US Federal Reserve to start sucking out the liquidity that it has infused into the global financial market in the last nine years any time soon. The comments came in the wake of the release of the minutes of the Federal Open […]
Axis Bank, one of India’s top two private banks, has cut its lending rates by 0.15 percentage points in the wake of the ongoing currency exchange program. With this, the bank’s ‘marginal cost-based lending rate’ has been reduced to 9.05% for one year and 9.15% for three years. The change will come into effect from […]
Angel Broking said it believes that the US Federal Reserve is likely to raise policy interest rates starting from December this year. The broking house was responding to the latest move by the US central bank to keep rates steady at its last policy decision before next week’s US Presidential election. “The Federal Reserve has […]
United Bank of India has cut its benchmark interest rate by 5 basis points across all tenures. With this, the marginal cost of funds-based lending rate for one year loan has been cut to 9.4%. The MCLR for one month is 9.25%. The new rate will be applicable to all new loans of the bank […]
Bank of India said it had revised its base rate from 9.70% to 9.65 %. The revised rate will be in effect from Friday. Base rate is the minimum interest rate that the bank charges. It is not allowed to issue loans below this rate to any of its customers. Bank of India is a […]
Axis bank has cut its loan interest rate by 5 basis points across all tenures. With this, the marginal cost of funds-based lending rate for three year loans has been cut to 9.4% and that for 1 year loan, has been cut to 9.25%. The MCLR for one month is 8.90%. The new rate will […]
The RBI’s decision to maintain the policy rates was in expected lines said Smt. Arundhati Bhattacharya, SBI chairman. Appreciating the move by RBI to go into Open Market Operation (OMO) she added that transmission of rates will happen gradually over the next few months as credit growth picks up pace. Dr. Rudra Sensarma, Professor of […]
State Bank of India, the public sector bank, announced a new scheme under which government and defence employees can get several concessions on home loans including a slower interest rate. Under the scheme, government employees will get an interest rate concession of 5 basis points (0.05%) over the Home Loan Card Interest Rate is available […]
Axis Bank, India’s third largest Private Sector bank reduced its lending rate by 15 bps across all tenors. “This follows the reduction in Policy rates by RBI on April 5, 2016. The reduced MCLRs will take effect starting April 18thm” the bank said. With this, Axis Bank’s marginal cost based lending rates (MCLR) are as […]
The government of India has decided to utilize Rs 6,500 cr of surplus cash to buy back bonds that it issued recently. The bonds carry 1.44% interest over and above the wholesale inflation index rate and were due to repurchase only in the year 2023. The government of India has seen a sudden influx of […]
Following a steep 0.5 percentage point cut in policy rates by the Reserve Bank of India, Axis Bank — one of India’s largest lenders — has cut its base interest rate to 9.50% from 9.85%. This will mean lower EMIs for hundreds of thousands of its floating loan customers. The cut is with effect from […]
L&T Infrastructure Finance Company Ltd – belonging to the engineering conglomerate Larsen & Toubro Ltd (L&T) – reduced its prime lending rate by 0.25% to 15.50% per year effective 15th Sept, the company said. “This revised PLR shall be applicable in respect of both existing loans and new disbursals, in accordance with the relevant clauses […]
IDBI Bank has reduced the interest rates on Retail Term Deposit by 40 basis points (0.4 percentage points) on fixed deposits with maturity of more than 6 months and up to 270 days. For maturity periods of over 271 days, it has reduced the interest rates by 25 basis points. Senior citizens would get interest […]
Even as many voices said that the Reserve Bank of India is unlikely to cut interest rates further this year, the real estate sector — though disappointed by today’s actions — is holding out hope that it will do so in coming months. On the RBI’s decision not to cut rates during its third monetary […]
The following are reactions from industry experts and analysts on RBI’s monetary policy announced today. The central bank did not change key interest rates, which was in line with what the Street had expected. Repo rate remains unchanged at 7.25% and CRR remains unchanged at 4%. Kunal Shah, Fund Manager, Debt at Kotak Mahindra Old […]
