EXPLAINED: Here's how cut in MCLR will impact your home loan EMI
4 years, 11 months ago

EXPLAINED: Here's how cut in MCLR will impact your home loan EMI

India TV News  

5 basis point cut in MCLR by SBI expected to boost realty sector, experts believe. The largest commercial bank SBI today cut its lending rates making home loan and auto loan cheaper by announcing 5 basis point reduction in MCLR. Moreover, the recently announced extension of benefits to both developers and home buyers for affordable housing in the Union Budget is expected to maintain the growth momentum in the sector.” How new MCLR will impact your home loan EMI: MCLR is associated only with floating rate home loans. Instead, have a systematic partial prepayment plan in place to lower interest burden on the home loan As soon as one will prepay the home loan, he or she will have more cash and equity in hand For an existing customer of home loan MCLR rate cut will not have the immediate effect on your home loan Your home loan will get reset depending on 6 months reset period or 1 year, but for the new home loan borrowers it will impact the loan EMIs Loans will get cheaper for the new home loan borrowers A rate cut of MCLR also explains that fixed deposit rates might change as well Remember, that MCLR linked home loans are applied only on those borrowers who have taken the loan after April 1,2016 and before October 1,2019. Just grab the MCLR rate cut opportunity and avail the benefits of new home loan rates by buying a house.

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History of this topic

HDFC Bank hikes MCLR for short-term loans. What borrowers need to know
1 month ago

HDFC Bank hikes MCLR for short-term loans. What borrowers need to know

India Today  

HDFC Bank has increased its marginal cost of funds-based lending rate on short-term tenures by up to 5 basis points, effective December 7, 2024. Introduced by the Reserve Bank of India in 2016 to replace the base rate system, MCLR reflects the actual cost of funds for banks. A lower MCLR means lower interest rates and EMIs, while a higher …

Home loans may become more affordable and boost the real estate sector, experts say
1 month ago

Home loans may become more affordable and boost the real estate sector, experts say

Hindustan Times  

The Reserve Bank of India's December 2024 monetary policy decision will make home loans cheaper and benefit India's real estate sector, according to several industry experts. The central bank's monetary policy committee decided to keep the repo rate unchanged at 6.5% for the 11th consecutive time, but slashed the cash reserve ratio by 50 basis points, bringing it down to …

Experts ask RBI to cut interest rate to revive real estate market, ease home loan burden
1 month ago

Experts ask RBI to cut interest rate to revive real estate market, ease home loan burden

Live Mint  

With the Reserve Bank of India keeping its key interest rate unchanged, real estate experts and developers have stressed the need to lower the rate, citing the need to stimulate sluggish sales and ease the growing burden of borrowing costs. “At this point, a rate cut would be more beneficial for consumers," said Shishir Baijal, chairman and managing director of …

RBI keeps interest rate unchanged; home loan borrowers may have to wait till 2025 for EMI relief
1 month ago

RBI keeps interest rate unchanged; home loan borrowers may have to wait till 2025 for EMI relief

Hindustan Times  

The Reserve Bank of India's decision to keep its benchmark interest rate unchanged at 6.5% for the 11th consecutive time citing continued inflationary pressures means stable EMIs for homebuyers amidst rising housing prices. RBI Monetary Policy: The Reserve Bank of India's decision to keep its benchmark interest rate unchanged at 6.5% for the 11th consecutive time citing continued inflationary pressures …

EMIs to go up? SBI raises lending rates by 5 basis points for THESE tenures. Check details
1 month, 3 weeks ago

EMIs to go up? SBI raises lending rates by 5 basis points for THESE tenures. Check details

Live Mint  

State Bank of India has raised the marginal cost of funds based lending rates, MCLR, with effect from Friday. New lending rates with effect from Nov 15 Tenures Existing rate New rate Over night 8.20 8.20 One month 8.20 8.20 Three month 8.50 8.55 Six month 8.85 8.90 One year 8.95 9.00 Two years 9.05 9.05 Three years 9.10 9.10 …

SBI Hikes MCLR by 10 Basis Points, Third Consecutive Increase
4 months, 3 weeks ago

SBI Hikes MCLR by 10 Basis Points, Third Consecutive Increase

Deccan Chronicle  

Mumbai: The country’s largest lender State Bank of India has raised its Marginal Cost of Funds-based Lending Rate by 10 basis points across all tenors impacting largely some old individual borrowers or companies whose loans are still linked to MCLR. According to Vipul Patel, founder, of Mortgageworld, a home loan advisory company, “While new borrowers have their loan rates linked …

SBI Hikes MCLR-based Lending Rates By 10 BPs; Check Details Here
4 months, 3 weeks ago

SBI Hikes MCLR-based Lending Rates By 10 BPs; Check Details Here

News 18  

State Bank of India, India’s largest lender, has raised its marginal cost of funds-based lending rate by 10 basis points. SBI Revised MCLR Rates SBI’s overnight MCLR has increased from 8.10% to 8.20%. The changes in MCLR rates are as follows: Impact On Loans The interest rates on loans are also likely to rise by a similar measure, and EMIs …

SBI hikes loan interest rates from today, EMIs for personal, auto loans to rise | Check details
5 months, 3 weeks ago

SBI hikes loan interest rates from today, EMIs for personal, auto loans to rise | Check details

India TV News  

SBI loan: Taking a loan from the State Bank of India, the country's largest public sector bank, has become more costly today. It's important to note that EMIs for personal and auto loans linked to the MCLR will rise, while home loans tied to the repo rate will remain unchanged. SBI's new interest rates SBI has increased the one-month MCLR …

SBI Raises Lending Rates By 10 Basis Points, EMIs Set To Increase
6 months, 3 weeks ago

SBI Raises Lending Rates By 10 Basis Points, EMIs Set To Increase

ABP News  

The State Bank of India, India's largest lender, has raised its marginal cost of funds-based lending rate by 10 basis points, equivalent to 0.1 per cent, across all loan tenures. Similarly, the overnight MCLR has increased to 8.10 per cent from 8.00 per cent, while the one-month and three-month MCLR rates have increased to 8.30 per cent from 8.20 per …

Bank of Maharashtra Cuts Home, Car Loan Rates, Waives Processing Fee
1 year, 4 months ago

Bank of Maharashtra Cuts Home, Car Loan Rates, Waives Processing Fee

ABP News  

State-owned Bank of Maharashtra on Saturday slashed the interest rates on home and car loans by up to 20 basis points. Starting August 14, 2023, the Bank of Maharashtra's adjusted home loan interest rate will be 8.50 per cent, down from the current rate of 8.60 per cent, reported PTI, citing the bank release on Saturday. Furthermore, the interest rate …

Kotak Mahindra Bank hikes lending rates. Loan EMIs to increase further
1 year, 9 months ago

Kotak Mahindra Bank hikes lending rates. Loan EMIs to increase further

Live Mint  

Kotak Mahindra Bank has increased its lending rates by 5 basis points across tenures. The bank has set the rate for one, two, and three year tenure at 9.05%, 9.10%, and 9.25% The Marginal Cost of Funds based Lending Rate with effect from Mar 16, 2023 for various tenors Overnight - 8.25% One Month -8.50% Three Month -8.65% Six Month …

SBI Hikes Home Loans Rates. Check Revised Lending Rates For HDFC, PNB, BoB
1 year, 10 months ago

SBI Hikes Home Loans Rates. Check Revised Lending Rates For HDFC, PNB, BoB

ABP News  

India’s top lender State Bank of India has raised the marginal cost of funds-based lending rate by 10 basis points. The hike comes within a week after the Reserve Bank of India raised its repo rate by 25 bps to 6.50 per cent. SBI has raised the overnight MCLR rate by 10 bps to 7.95 per cent from 7.85 per …

Bank of Baroda hikes MCLR from 12 Feb; loan EMI burden to increase
1 year, 11 months ago

Bank of Baroda hikes MCLR from 12 Feb; loan EMI burden to increase

Live Mint  

Public sector lender Bank of Baroda on Thursday said it has approved the revision in marginal cost of funds-based lending rates by 5 basis points across MCLR tenors. This comes a day after the Reserve Bank of India delivered another rate hike, increasing repo rate by 25 basis points to 6.50 per cent. The overnight MCLR rate has been revised …

HDFC Bank Raises MCLR Rate; Loans, EMIs Get Costlier; Check Details
2 years, 1 month ago

HDFC Bank Raises MCLR Rate; Loans, EMIs Get Costlier; Check Details

News 18  

HDFC Bank, India’s largest private sector lender, has raised its marginal cost of funds-based lending rate, effective from December 7, 2022, thus making home, vehicle and personal loans expensive. The bank’s one-month MCLR has been raised by 5 basis points from 8.25 per cent to 8.30 per cent, while its three-month and six-month MCLRs not stand at 8.35 per cent …

Indian Bank to hike lending rate by 15-35 bps across tenures
2 years, 2 months ago

Indian Bank to hike lending rate by 15-35 bps across tenures

Live Mint  

The public-sector bank Indian Bank announced the hike of the marginal cost of funds-based lending rate by 15-35 basis points across tenors, the bank said on Tuesday. The benchmark one-year tenor MCLR, which is linked to the majority of consumer loans such as car, auto, and personal, will increase from 7.85 per cent to 8.10 per cent. The overnight MCLR …

Axis Bank Hikes MCLR; Home Loan, Car Loan EMIs to Increase Soon; Know Details Here
2 years, 4 months ago

Axis Bank Hikes MCLR; Home Loan, Car Loan EMIs to Increase Soon; Know Details Here

News 18  

Axis Bank MCLR Rate Hike: India’s leading private sector lender Axis Bank has hiked its marginal cost of lending rate, the lender has said in a notification last week. With the latest rise in MCLR rates, the overnight and one-month MCLR rate of Axis Bank now stand at 7.85 per cent. The MCLR for three months, has been hiked to …

SBI Hikes MCLR Across All Tenors: Home Loan, Car Loan EMIs Set to Increase; Details Here
2 years, 4 months ago

SBI Hikes MCLR Across All Tenors: Home Loan, Car Loan EMIs Set to Increase; Details Here

News 18  

India’s largest public sector lender State Bank of India has hiked its marginal cost of lending rate, the bank has said in a notification. This means that loan interests will increase by 0.20 per cent with the SBI MCLR hike. Here are the tenor-wise SBI’s MCLR effective from August 15, 2022, as per the lender’s website: Overnight: Old Rates — …

PNB Hikes MCLR Today: How Will it Affect Your Home Loan, Car Loan EMIs?
2 years, 5 months ago

PNB Hikes MCLR Today: How Will it Affect Your Home Loan, Car Loan EMIs?

News 18  

PNB MCLR Rate Hike: Public sector lender Punjab National Bank has increased its marginal cost of lending rate, or MCLR across all tenors, according to its website. PNB’s overnight benchmark marginal cost of lending rate has increased from 6.90 per cent to 7.00 per cent, while its rates for one month, three months and six months have been increased by …

SBI Hikes MCLR Rates By 10 Basis Points; Loans, EMIs To Get Costlier
2 years, 5 months ago

SBI Hikes MCLR Rates By 10 Basis Points; Loans, EMIs To Get Costlier

News 18  

India’s largest lender State Bank of India has raised its marginal cost of lending rate on loans by 10 basis points, effective Friday. SBI’s one-year benchmark marginal cost of lending rate has increased from 7.40 per cent to 7.50 per cent, while its rates for overnight, one month and three months have been increased from 7.05 per cent to 7.15 …

HDFC Bank Home Loan, Car Loan EMIs to Increase Soon: Lender Hikes MCLR Rates by 20 Bps
2 years, 6 months ago

HDFC Bank Home Loan, Car Loan EMIs to Increase Soon: Lender Hikes MCLR Rates by 20 Bps

News 18  

HDFC Bank MCLR Rate Hike: Customers of India’s largest private sector lender HDFC Bank are likely to have to shell out more money as interest if they have taken any loan from the lender. HDFC Bank MCLR rates for overnight, one month and three months have been hiked to 7.70 per cent, 7.75 per cent and 7.80 per cent, hiked …

Yes Bank Hikes MCLR; How Much Will Home Loan, Car Loan EMIs Go Up? Check Here
2 years, 6 months ago

Yes Bank Hikes MCLR; How Much Will Home Loan, Car Loan EMIs Go Up? Check Here

News 18  

Leading private lender Yes Bank has increased its MCLR rates. The new Yes Bank MCLR rates have already come into effect, as per a note on the lender’s website The move comes almost a month after the Reserve Bank of India hiked its repo rates to 4.90 per cent against a backdrop of rising inflation in the country. Yes Bank …

SBI hikes lending rates by 20 bps from 15 June, EMIs to go up
2 years, 6 months ago

SBI hikes lending rates by 20 bps from 15 June, EMIs to go up

Live Mint  

Joining the bandwagon of the Marginal Cost Of Funds Based Lending Rate rate hike, the State Bank of India raised the lending rates by 20 basis points on various tenures. Currently, on a CIBIL score greater than or equal to 800, SBI offers a 7.05% rate on regular home loans, the rate is 7.15% on credit scores from 750-799. Auto …

HDFC Bank Customers: Home Loan, Car Loan EMIs to Go Up as Lender Hikes MCLR by 35 bps
2 years, 7 months ago

HDFC Bank Customers: Home Loan, Car Loan EMIs to Go Up as Lender Hikes MCLR by 35 bps

News 18  

HDFC Bank MCLR Rate Hike: India’s largest private sector lender HDFC Bank has increased its marginal cost of lending rate, or MCLR across all tenors, according to its website. The HDFC Bank MCLR rate hike will mean that loan interests for new and existing borrowers are set to increase, including equated monthly installments for home loan, vehicle loan and any …

Impact of rate hike on real estate market and home buyer sentiments
2 years, 7 months ago

Impact of rate hike on real estate market and home buyer sentiments

Live Mint  

Many lending institutions have recently hiked their lending rates after an off-cycle rate increase by the Reserve Bank of India in May. HDFC has announced that it has raised its benchmark lending rate by 5 basis points, a move that will increase EMI for new and existing borrowers. We are on a landscape of rising interest rate and increasing property …

Axis Bank Hikes MCLR Rates Today, Home Loan, Car Loan EMIs to Increase; Check Here
2 years, 7 months ago

Axis Bank Hikes MCLR Rates Today, Home Loan, Car Loan EMIs to Increase; Check Here

News 18  

Axis Bank MCLR Rate Hike: India’s leading private sector lender Axis Bank has hiked its marginal cost of lending rate, the lender has said in a notification on Wednesday, May 18. With the latest rise in MCLR rates, the overnight and one-month MCLR rate of Axis Bank now stand at 7.55 per cent. The MCLR for three months, has been …

SBI increases MCLR | How hiking this lending rate impacts your home, auto loan EMIs
2 years, 7 months ago

SBI increases MCLR | How hiking this lending rate impacts your home, auto loan EMIs

India Today  

The State Bank of India has hiked the marginal cost of lending rate by 10 basis points. SBI HOME LOAN, AUTO LOANS MCLR, which was introduced by the Reserve Bank of India in 2016, is the minimum rate of interest at which a bank can lend loans to its customers. The increase in repo rate - the rate at which …

SBI Hikes MCLR Again, Twice In A Month; How Will It Impact Home, Auto Loan EMIs?
2 years, 7 months ago

SBI Hikes MCLR Again, Twice In A Month; How Will It Impact Home, Auto Loan EMIs?

News 18  

State Bank of India or SBI has increased its marginal cost of lending rate by 10 basis points across tenures. With the latest rise in MCLR rates, the overnight, one-month, three-month MCLR rate of SBI now stand at 6.85 per cent. Introduced by the Reserve Bank of India in 2016, MCLR or marginal cost of funds-based lending rate is an …

Will RBI rate hike be a dampener for real estate?
2 years, 7 months ago

Will RBI rate hike be a dampener for real estate?

Live Mint  

For the first time in almost two years, the Reserve Bank of India has hiked the repo rate by 40 basis points to tackle inflation. “The recent regulations by the Reserve Bank of India on increasing the repo rate by 40 bps, bringing them to 4.40%, may affect the real estate sector to an extent,” said Rohit Malik, Founder, Clicbrics. …

HDFC Bank Loan Borrowers: MCLR Hiked; How Much Home Loan, Car Loan EMIs Will Increase?
2 years, 8 months ago

HDFC Bank Loan Borrowers: MCLR Hiked; How Much Home Loan, Car Loan EMIs Will Increase?

News 18  

HDFC Babk MCLR Rate Hike: India’s largest private sector lender HDFC Bank has hiked its MCLR across all tenors, the bank has said in a notification. This means that loan interests will increase by 0.10 per cent with the HDFC Bank MCLR rate hike. The HDFC Bank MCLR rate hike will mean that loan interests for new and existing borrowers …

How to ensure that surging EMIs don’t spoil your monthly budget
2 years, 8 months ago

How to ensure that surging EMIs don’t spoil your monthly budget

Live Mint  

Soon after the Reserve Bank of India on Wednesday raised the repo rate by 40 basis points to 4.40 percent while there are strong expectations of another rate hike in offing, some of the commercial banks have already raised their MCLR, thus directly impacting the EMI burden of home loan borrowers. As a result, some home loan borrowers might face …

Banks hike MCLR: Here’s how your EMIs will be impacted
2 years, 8 months ago

Banks hike MCLR: Here’s how your EMIs will be impacted

Live Mint  

Although RBI has kept its policy repo rate unchanged at 4%, borrowers might have gotten too comfortable with their term loan interest rates. Government-owned SBI which is also one of the largest lenders in the country, hiked its MCLR by 10 basis points for the first time in three years since 2019, while lenders like Bank of Baroda, Axis Bank, …

SBI, Bank of Baroda, Axis Bank Hike MCLR Rates: Calculate How it Will Impact Home Loan, Car Loan
2 years, 8 months ago

SBI, Bank of Baroda, Axis Bank Hike MCLR Rates: Calculate How it Will Impact Home Loan, Car Loan

News 18  

MCLR Rate Hike: Over the past one week, several banks including State Bank of India, Bank of Baroda, Axis Bank, Kotak Mahindra Bank and IndusInd Bank have hiked their marginal cost of funds-based lending rate on loans. MCLR or marginal cost of lending rate is a benchmark interest rate, which is the minimum rate of interest banks are allowed to …

SBI Hikes MCLR Across All Tenors By 10 Basis Points; Home Loan, Car Loan EMIs May Go Up
2 years, 8 months ago

SBI Hikes MCLR Across All Tenors By 10 Basis Points; Home Loan, Car Loan EMIs May Go Up

ABP News  

New Delhi: State Bank of India, the country’s largest public sector lender, has raised the marginal cost of lending rate by 10 basis points across all loan tenors, according to news reports. Tenor-wise MCLR effective from April 15: Over night: Existing rate — 6.65 per cent; New rate — 6.75 per cent One Month: Existing rate — 6.65 per cent; …

SBI Hikes MCLR Across All Tenors: Home Loan, Car Loan EMIs May Go Up; Check Details
2 years, 8 months ago

SBI Hikes MCLR Across All Tenors: Home Loan, Car Loan EMIs May Go Up; Check Details

News 18  

India’s largest public sector lender State Bank of India has hiked its marginal cost of lending rate, the bank has said in a notification. This means that loan interests will increase by 0.10 per cent with the SBI MCLR hike. Here are the tenor-wise MCLR effective from April 15, 2022, as per SBI website: Over night: Existing rate — 6.65 …

HDFC Bank slashes MCLR rates, effective from today
4 years, 5 months ago

HDFC Bank slashes MCLR rates, effective from today

Live Mint  

HDFC Bank, the country's largest private sector bank, cut its marginal-cost based lending rate on loans for all tenors by 10 basis points. The reduction in HDFC Bank's lending rate will make EMIs on home and other loans tied to its marginal cost of funds based lending rate cheaper. HDFC Bank's tenor-wise MCLRs effective from 7th August 2020: Overnight 7.00 …

Canara Bank home loan EMIs to fall as bank slashes MCLR by up to 30 bps
4 years, 5 months ago

Canara Bank home loan EMIs to fall as bank slashes MCLR by up to 30 bps

Live Mint  

Canara Bank has slashed its marginal cost of fund-based lending rate by up to 30 basis points across various tenors. The three-month MCLR has been revised to 7.15 per cent from 7.45 per cent, Canara Bank said in a regulatory filing. The revised lending rates will be effective from August 7, Canara Bank said. Canara Bank revised MCLR rates effective …

ICICI Bank home loan EMIs to fall as bank cuts MCLR rate
4 years, 5 months ago

ICICI Bank home loan EMIs to fall as bank cuts MCLR rate

Live Mint  

The second largest private sector lender ICICI Bank has cut its lending rates by 10 basis points across all tenors. The reduction in ICICI Bank's lending rate will make EMIs on home and other loans tied to its marginal cost of funds based lending rate cheaper. One-year MCLR is considered important from a retail loans perspective, as all of a …

Home loans get cheaper as SBI cuts lending rates
4 years, 7 months ago

Home loans get cheaper as SBI cuts lending rates

The Hindu  

Country’s largest lender State Bank of India has reduced the marginal cost of fund based lending rate by 25 bps across all tenors. The lending rate reduction comes after Reserve Bank of India cut the repo rate by 40 bps in May. Following the repo rate cut, the lending rates of SBI which are linked to the repo rate, are …

IOB, Bank of Maharashtra cut lending rates; personal, car and home loan EMIs to become cheaper
4 years, 8 months ago

IOB, Bank of Maharashtra cut lending rates; personal, car and home loan EMIs to become cheaper

Firstpost  

New Delhi: State-owned Indian Overseas Bank and Bank of Maharashtra on Wednesday announced a reduction in their marginal cost of funds based lending rate. The Chennai-headquartered lender said the MCLR for the benchmark one-year tenor loan has been cut by 0.10 percent to 8.15 percent, with effect from May 10. Pune-based Bank of Maharashtra reduced the one-year MCLR by 0.10 …

SBI cuts FD interest rates second time in a month, reduces MCLR by up to 15 bps; home, auto loans to become cheaper
4 years, 9 months ago

SBI cuts FD interest rates second time in a month, reduces MCLR by up to 15 bps; home, auto loans to become cheaper

Firstpost  

The country’s largest lender State Bank of India on Wednesday said it has reduced its marginal cost of fund-based lending rate by up to 15 basis points across various tenors, effective 10 March The country’s largest lender State Bank of India on Wednesday said it has reduced its fixed deposit rates for certain tenors and marginal cost of funds-based lending …

SBI cuts lending rate, home, auto loan EMIs to fall
4 years, 9 months ago

SBI cuts lending rate, home, auto loan EMIs to fall

Live Mint  

The country's largest lender State Bank of India has cut its marginal cost of fund-based lending rate by up to 15 basis points across various tenors effective March 10, a move which will make home loans cheaper. The lender had on February 10th had cut MCLR rates by 5 basis points across all tenors. If your home loan is linked …

Good News for Bank of Baroda customers! Home, car and other loans get cheaper
4 years, 11 months ago

Good News for Bank of Baroda customers! Home, car and other loans get cheaper

India TV News  

State-owned Bank of Baroda, New Delhi on Monday announced cut in its marginal cost of funds-based lending rates by up to 10 basis points, effective February 12. With this reduction, the one-year MCLR has come down to 8.15 per cent per annum from 8.25 per cent, according to a bank statement. The reduction in MCLR by the bank comes a …

SBI cuts MCLR for ninth time in a row, home loans to become cheaper; cuts interest rate on fixed deposits too
4 years, 11 months ago

SBI cuts MCLR for ninth time in a row, home loans to become cheaper; cuts interest rate on fixed deposits too

Firstpost  

SBI further said in view of surplus liquidity in the system, it has realigned its interest rate on retail term deposits and bulk term deposits, effective 10 February. A day after the Reserve Bank of India announced incentives for banks to boost credit growth in the form of relaxing cash reserve ratio norms, the country’s largest lender State Bank of …

Banks cut MCLR after RBI keeps repo rates unchanged; here is a look at revised interest structure
5 years ago

Banks cut MCLR after RBI keeps repo rates unchanged; here is a look at revised interest structure

Firstpost  

On 9 December, the country’s largest lender SBI announced the reduction in its marginal cost of MCLR by 10 basis points across all one-year products. SBI cuts MCLR by 10 bps On 9 December, the country’s largest lender State Bank of India announced the reduction in its marginal cost of MCLR by 10 basis points across all one-year products. Bank …

SBI lowers one-year MCLR rate by 10 bps to 7.9%
5 years, 1 month ago

SBI lowers one-year MCLR rate by 10 bps to 7.9%

Live Mint  

India's largest lender State Bank of India on Monday said it will reduce its one-year marginal cost of funds-based lending rate by 10 basis points to 7.9% from 10 December. "To pass on the benefit of its reducing cost of funds to customers, country’s largest lender State Bank of India has announced the reduction in its one-year MCLR by 10 …

Know How to Get More Benefits from Revised Home Loan Interest Rates
5 years, 1 month ago

Know How to Get More Benefits from Revised Home Loan Interest Rates

India TV News  

As per the fresh rules mandated by the Reserve Bank of India, all financial institutions in India must now link their new home loan prices to a new external benchmark, namely the MCLR. With these fundamental shifts in lending, home loan interest rate is expected to become much cheaper for borrowers in the near future. Implications of Revised Home Loan …

Half dozen public sector banks cut lending rates by up to 25 bps; home, auto loans to become cheaper
5 years, 2 months ago

Half dozen public sector banks cut lending rates by up to 25 bps; home, auto loans to become cheaper

Firstpost  

New Delhi: About half a dozen public sector banks, including Bank of India, Oriental Bank of Commerce and Bank of Maharashtra, have reduced lending rates by up to 25 basis points following a cut in the key policy repo rate by the RBI last month. In line with the decision of RBI to reduce repo rate by 25 basis points, …

Half a dozen public sector banks cut lending rates by up to 0.25%
5 years, 2 months ago

Half a dozen public sector banks cut lending rates by up to 0.25%

India TV News  

About half a dozen public sector banks, including Bank of India, Oriental Bank of Commerce and Bank of Maharashtra, have reduced lending rates by up to 25 basis points following a cut in the key policy repo rate by the RBI last month. In line with the decision of RBI to reduce repo rate by 25 basis points, the bank …

SBI home loans to get cheaper as bank reduces key lending rates
5 years, 3 months ago

SBI home loans to get cheaper as bank reduces key lending rates

India TV News  

The country's largest lender by assets, State Bank of India or SBI on Wednesday announced reduction in its marginal cost of fund-based lending rate by 10 basis points across all tenors. SBI's move to reduce the key lending rate comes after Reserve Bank of India cut the repo rate by 25 basis points last week. SBI has also announced a …

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