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SBI to host loan utsav in Bangalore
State Bank of India (SBI) Bangalore Circle, on Thursday, said it will organise a three-day loan utsav in the City. The event –– SBI Home/Car Loan Utsav 2010 –– will be held from February 19 to February 21 at the bank’s headoffice on St. Mark’s Road. While announcing that the bank will offer spot loans at an interest rate of 8 per cent, it said that customers can visit the stalls from 11... [Read more]
Hike in CRR signals end of special loan rates
The hike in cash reserve ratio (part of deposits that banks have to park with the RBI) will signal the end of special home (also called teaser home loan rates) and auto loan rates. It is also expected to jack up borrowing costs for companies. “These rates will come to an end by march,” said MV Nair, chairman of Indian Banks Association (IBA) and chairman and managing director of Union Bank of... [Read more]
Home, car, personal loan rates sure to rise
Home, car and personal loans are now certain to be more expensive with the Reserve Bank of India , under pressure to combat rising inflation, on Friday raising the mandatory cash reserves of banks to suck over Rs 36,000 crore (Rs 360 billion) out of the system. Bankers said that both lending and deposit rates are likely to go up by at least 1 per cent as a fall out of RBI announcing a hike in CRR. With... [Read more]
NRI home loans on the upswing
Most Non-Resident Indians think a lot before investing in property in India and most of the time put off the plan due to the effort, the research and the planning involved. In some instances, it is put off as they do not have enough funds. For such individuals there is always the NRI home loan. The Reserve Bank of India [ Get Quote ] defines NRI as ‘an Indian citizen who holds a valid Indian... [Read more]
Major Banks Reject RBIs Proposal of Uniform Home Loan Rates
Driven by angry mortgage borrowers, RBI has once again nudged top banks to charge lower home loan rates to old customers instead of just using the lower interest rates to pull new borrowers. But lenders continued to resist the proposal, citing cost mismatch. The contentious issue cropped up when CEOs of large banks met senior RBI officials on Thursday to suggest possible measures that the central... [Read more]
