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Coronavirus Outbreak: Bank of Baroda offers refund of March EMI to home, auto loan customers
Business

Coronavirus Outbreak: Bank of Baroda offers refund of March EMI to home, auto loan customers

State-run Bank of Baroda on Wednesday said it is offering retail customers the option of getting a refund of the EMI that already has been deducted in March to meet any liquidity need during the disruption caused by COVID-19 pandemic

RBI Monetary Policy 2019 Updates: Forensic audit on PMC Bank scam expected by month-end, says Shaktikanta Das
Business

RBI Monetary Policy 2019 Updates: Forensic audit on PMC Bank scam expected by month-end, says Shaktikanta Das

If the Reserve Bank of India (RBI) cuts the repo rate today, it would be the sixth reduction in the short-term lending rate this financial year.

SBI announces home, auto loans at cheaper rates during festival season; other lenders likely to follow suit
Business

SBI announces home, auto loans at cheaper rates during festival season; other lenders likely to follow suit

Recently, SBI reduced MCLR by 15 bps due to which overall home loan interest rate is now reduced by 35 bps since April 2019.

RBI proposes floating interest rates on home, auto, MSE loans to be linked to new benchmarks from 1 April
Business

RBI proposes floating interest rates on home, auto, MSE loans to be linked to new benchmarks from 1 April

In a bid to ensure greater transparency, the RBI on Wednesday proposed that floating interest rates on personal, home, auto and micro and small enterprises (MSEs) loans will linked to external benchmarks like repo rate or treasury yields, from 1 April next year.

Rising fuel prices may lead to commercial vehicle loan defaults, says Fitch Ratings report
Business

Rising fuel prices may lead to commercial vehicle loan defaults, says Fitch Ratings report

Fitch Ratings on Friday said continued rise in fuel prices could impact commercial vehicle operators in the country, leading to auto loan defaults.

Planning to get a home or auto loan? You may soon end up paying more but there’s no reason for major worry
Business

Planning to get a home or auto loan? You may soon end up paying more but there’s no reason for major worry

Banks are preparing to cushion their earnings by gradually increasing their lending rates in backdrop of hardening bond yields over past few months

Punjab National Bank makes home, auto loans attractive for govt staff
Business

Punjab National Bank makes home, auto loans attractive for govt staff

To cash in on the 7th Pay Commission payout to government employees, state-owned Punjab National Bank (PNB) is offering them home and auto loans at attractive rates of 9.3-9.8 per cent beginning this month.

 Q1 home, auto loans growth fairly reasonable: SBI
Business

Q1 home, auto loans growth fairly reasonable: SBI

Because of the slowdown in the corporate credit pick up due to the gloomy economy, banks have turned their focus on the retail lending sector.

HDFC Bank not to follow SBI on auto loan rate cut
Business

HDFC Bank not to follow SBI on auto loan rate cut

SBI's rate for auto loans across tenures stands at 10.75 percent, post revision.