Standard Chartered cuts base rate by 0.25 per cent

Oct 6, 2015 10:39:00 AM

British lender Standard Chartered today cut its base rate or minimum rate of lending by 0.25 per cent to 9.50 per cent, joining a large number of rivals who have slashed rates after the RBI's policy.

"Standard Chartered has announced a reduction of 0.25 per cent in its base rate from the current level of 9.75 per cent...

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HDFC cuts lending rate by 0.25 per cent

Oct 6, 2015 10:18:00 AM

Housing Development Finance Corp (HDFC), India's largest mortgage finance company, on Monday reduced its retail prime lending rate (RPLR) by 25 basis points (bps).

The rate cut will be effective from Tuesday. "This...

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SBI to charge 9.50% to women home borrowers and 9.55% to others

Oct 5, 2015 11:24:00 AM

State Bank of India has increased spread on home loans after aggressively lowering its lending rates by 40 basis points to 9.30% last week.

The new home loan is pegged at 9.55% while women borrowers would be charged 9.50%. In effect, despite a 40 basis point reduction in the base rate the new home loan borrowers will be benefit by a 20 basis point reduction in rates. Base rate is...

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Axis, IDBI cut loan rates, ICICI reduces interest on bulk deposits

Oct 3, 2015 1:24:00 PM

Two more lenders - Axis Bank and IDBI Bank - have reduced their lending rates, while ICICI Bank has reduced interest rates on bulk deposits ahead of a lending rate cut.

Axis Bank, India's third largest private sector bank, revised its base rate by 35 basis points (bps) from 9.85% to 9.50% with effect from October 5. Accordingly, the effective rate applicable to home loans and working...

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Raghuram Rajan springs surprise by cutting repo rate

Oct 1, 2015 12:02:00 PM

Spreading the festive cheer more than a month ahead of Diwali, banks have started cutting home and auto loan rates. Immediately after the Reserve Bank of India (RBI) cut the repo rate (the rate at which it lends overnight money to banks) by 0.50% on Tuesday morning, banks started cutting their base rates – the lowest rate at which they can lend......

 

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SBI cuts base rate by 40 bps, deposit rates by 25 bps

Sep 29, 2015 5:18:00 PM

The country’s largest lender State Bank of India (SBI) on Tuesday cut its base rate by 40 basis points (bps) to 9.3%, soon after the Reserve Bank of India (RBI) reduced its policy repurchase rate by 50 bps.

One basis point is one-hundredth of a percentage point. The bank will also be reducing its deposit rates by 25 bps across maturity baskets....

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Rate cut by RBI should lead to cheaper home loans

Sep 29, 2015 4:57:00 PM

Home loan customers may be in for some good news after repo rate cut by Reserve Bank of India, say credit experts. The home loan rates may slide down for both existing as well as new customers, as there should be more room to cut the rates. “Private sector banks and State Bank of India are expected to pass on the benefit of the repo rate cut to the end...

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Top six reasons why RBI should cut interest rate next week.

Sep 26, 2015 2:38:00 PM

 

Reserve Bank of India governor Raghuram Rajan loves to surprise, especially when it comes to money policy management. Some experts do believe a shock therapy works best in money policy. This is precisely why despite multiple factors turning favourable for a rate cut by the central bank, nobody is really sure whether Rajan will bite the bullet.

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IDBI Bank soars as Jaitley drops privatisation hint.

Sep 25, 2015 4:04:00 PM

 

IDBI Bank rallied more than 16% on the back of Union finance minister Arun Jaitley’s comments in a television interview that the government was considering privatisation of the state-owned lender on the lines of Axis Bank. The IDBI Bank scrip closed at Rs 69.45 on the BSE, up Rs 9.95, or 16.72%. More than 3.44 crore shares were traded on the BSE and NSE, seven times the...

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How to take a smart personal loan?

Sep 25, 2015 1:16:00 PM

Vineet Jain Loanstreet.in

A personal Loan is the easiest form of finance available considering the fact that you get money in 72 hours maximum and it does not require any security or collateral. Being smart in choosing the right loan is the way to go as this is a short term loan with higher rate of interest than the other category of secured loans such as loan against property, loan...

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LoanStreet.in: Your Most Preferred Online Partner for Financial Services is Here.

Sep 25, 2015 12:59:00 PM

 

Mumbai, Maharashtra, India LoanStreet.in, the online marketplace for complete financial solutions, announces the official launch of its platform. Serving as the virtual counterpart to Finstreet Financial Services Pvt. Ltd, the core USP of LoanStreet is to ensure that customers get the perfect blend of the Right Lender, Right Price and Right Experience on their fingertips.

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Powai based LoanStreet offers a complete e-commerce experience in the financial services.

Sep 25, 2015 12:26:00 PM

 

“God help those who buy houses on loans,� says Vineet Jain, CEO and founder, LoanStreet, talking about the pressing need for an all-inclusive financial platform in the loan segment. Started this year, LoanStreet.in is an online marketplace for financial products – ranging from personal loans and home loans, to complex products like lease rental...

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Ten golden rules to follow when taking a loan.

Sep 25, 2015 12:12:00 PM

 

In an ideal world, everybody would have enough money for all his needs. In reality, many of us have little option but to borrow to meet our goals, both real and imagined. For banks and NBFCs, the yawning gap between reality and aspirations is a tremendous opportunity. They are carpet bombing potential customers with loan offers through emails, SMSs and phone calls. Some...

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Tieup with ICICI and a strong network gives Vodafone head start in payment banking.

Sep 25, 2015 11:49:00 AM

 

Mobile operator Vodafone's tieup with ICICI BankBSE -1.95 % for its M-Pesa mobile money transfer service and a strong network of 90,000 business correspondents will give it a head start in the payment banking industry, a top official said.

Vodafone is among the first 11 entities that have got the Reserve Bank of India's nod to operate payment banks, which can accept...

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HDFC Bank to disburse loans in nano seconds

Sep 23, 2015 11:21:00 AM

 

HDFC Bank, India’s second-largest private lender, is gearing up to disburse loans in nano seconds. The bank's customers alone can avail of these loans, to be offered as a top-up on existing car/two-wheeler loans.

“The nano-second loan will be quick money for the customer. If you have a car financed by us, you get an offer that will flash on your cell phone. You...

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Housing finance companies tap ECB route for tapping cheaper funds.

Sep 12, 2015 10:50:00 AM

 

The external commercial borrowing market may have slowed down because of a slump in projects, but housing finance companies are increasingly looking to use this route for lowcost funds. "We are evaluating the option to raise $250 million Rs 1,662 crore) through ECB at Li(.bor plus 150-200 basis points," said Srinivas Acharya, managing director of Sundaram BNP Paribas Housing...

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Five ways to come out of a loan trap

Sep 8, 2015 4:48:00 PM

 

Feeling trapped in the vicious circle of borrowing and repayment? Cannot think of ways to come out of the loan trap? Once you are caught in this trap, it sure is a tedious task to get out of it easily. Typically, what leads to this quandary is when a customer takes one loan. Thereafter, the income source from where this loan must be repaid gets dried up. Then, the customer...

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What terming SBI, ICICI as ‘systemically important’ means.

Sep 2, 2015 11:37:00 AM

 

What is a systemically important bank?

Systemically important bank or a bank that is ‘too big to fail’ is one whose failure will have nationwide or worldwide repercussions. A bank failure is a scenario in which the bank or financial institution is unable to pay its depositors or fulfil its financial obligations.

So why were SBI and...

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HDFC Bank throws gauntlet, cuts base rate by 0.35%

Aug 31, 2015 5:44:00 PM

The country's second-largest private-sector lender, slashed its base rate -- the minimum rate at which it lends -- by 0.35 percent to 9.35 percent, effective tomorrow.

The move comes after the Reserve Bank of India cut its benchmark repo rate thrice this year (by a total 0.75 percent), and urged banks to follow through with cuts on their lending rates.

"The base rate is...

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ICICI Bank launches mortgage guarantee-backed home loan.

Aug 27, 2015 11:14:00 AM

 

ICICI Bank  launched the country's first mortgage guarantee-backed home loan that will allow consumers to increase borrowing by 5-20 per cent and the tenure up to 67 years of age.

Typically, banks do not allow home loan tenures beyond 60 years of age.

This is how it works. Assuming that based on your age, income and other eligibility criteria there is a...

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