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| MoneyShakti News |
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| SBI to give Home Loans for only 9% |
December 21, 2008 |
| SBI anounced,on Saturday, cuts in Prime Lending Rate(PLR) by .75%.
This means that even existing customers who have borrowed at floating rates will be be benefitted.
At reduced rates effective January 1,2009 loans of upto 30 lakhs for tenures between 15 and 25 years will be available at 9.5%, loans of Rs. 30 lakhs to Rs. 75 lakhs at 10.75% and beyond 75 lakhs at 11%.
This will lead to rate cuts by other home loan providers also.LIC Housing Finance has already anounced rate cuts of 0.75 -2.25 percentage point for home loans upto Rs 20 lakhs effective December 17,2008.HDFC has also cut home loan rates by 50 basis points for all its floating rate customers.Also, for new customers for loans upto 20 lakhs HDFC will now charge 10.25% only. |
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| Loan interest rates jump to new seven year high |
November 12, 2008 |
| A multitude of lenders have increased their interest rates on loans in the last months and as a consequence borrowers intending to take out a new loan face the highest levels of repayments in the last six years, according to financial information website Moneyfacts.co.uk.
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| 1st Enterprise Bank Maintains Strong Loan |
October 22, 2008 |
| 1st Enterprise Bank Maintains Strong Loan and Core Deposit Growth for the Quarter Ended September 30, 2008 |
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| Standard Chartered Bank (StanChart) is scaling down |
October 21, 2008 |
| Standard Chartered Bank (StanChart) is scaling down its personal loans business and has decided to focus on existing customers only. Unlike most other banks, StanChart uses its own sales force rather than the Direct Sales Agent (DSA) network. |
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| Rising interest rates have applied brakes on car loans |
September 22, 2008 |
| Rising interest rates have applied brakes on car loans with banks reporting a sharp drop in fresh disbursals during the current year. |
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| HDFC Bank has bagged the award of Asian Banker's |
September 16, 2008 |
| HDFC Bank has bagged the award of Asian Banker's Best Retail Bank in India 2008 for the second consecutive year beating competitors in Asia Pacific, Gulf Cooperation Council and Central Asia on a range of parameters. |
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| ICICI bank is going slow on sanction of education loans |
September 1, 2008 |
| ICICI bank is going slow on sanction of education loans due to the various gaps in loan repayment. Currently, education loans are at an interest rate of 12 per cent. |
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