With the start of the festive season, many banks like State Bank of India, ICICI Bank, HDFC Bank and Bank of Baroda have brought festive offers on their home loans, personal loans and car loans. Before halting in recent months, the Reserve Bank of India had cut the repo rate...
Bank of Maharashtra, Indian Overseas Bank reduced loan interest rate
New Delhi: Two public sector banks, Bank of Maharashtra (BoM) and Indian Overseas Bank (IOB), have given a cut in loan interest rates. This will not only make the new loan cheaper but also reduce the EMI of existing customers home loan, auto loan. In fact, Bank of Maharashtra (BoM)...
HDFC disburses CLSS loans to over 2 lakh home buyers
Mumbai: In a regulatory filing on Sunday, the lender said that it approved over Rs 47,000 crore of home loans under CLSS to homebuyers belonging to the economically weaker section (EWS), low income group (LIG) and middle income groups (MIG). "Subsidy under PMAY amounting to over Rs 4,700 crore has...
SBI has made gold loans cheaper
New Delhi: State Bank of India has made gold loans cheaper. In order to enable customers to take the gold kept in the house during difficult times, the bank has brought the interest rate on SBI Personal Gold Loan Scheme at 7.50% per annum. The bank says that this interest...
EPF Interest rate for FY20 could be revised lower to 8.1%: report
New Delhi: On Thursday, a CNBC TV-18 report citing sources said the interest on Employees' Provident Fund or EPF could be cut to 8.1 percent versus 8.5 percent (earlier declared in March) for the financial year 2019-20 due to liquidity constraints. "EPFO income has been impacted on the inability to...
Maruti Suzuki India ties up with HDFC Bank for car loan on easy term
New Delhi: The country's largest carmaker Maruti Suzuki India on Thursday said it has tied up with HDFC Bank Ltd to offer loan schemes on easy terms for new car buyers. Maruti Suzuki India (MSI) said in a statement that the EMI option is included, under which customers can avail...
Moratorium on EMI extended by 3 more months by Reserve Bank
On Friday, at the press briefing post the monetary policy committee's off-cycle meeting, which has been on for the past three days, Reserve Bank of India (RBI) governor Shaktikanta Das announced that the moratorium on payments of instalments on term loans outstanding from all commercial, regional rural and small finance...
Bajaj Finance Q4 Profit At Rs 948 Crore; Revenue Jumps YoY
Bajaj Finance today announced its Q4 results for FY20 and posted profit after tax of Rs. 948 crore versus Rs. 1176 crore during the same quarter a year-ago. Revenue from operations at the firm grew year-on-year to Rs. 6302 crore as against Rs. 5,307.66 crore in year-ago period. Brokerage houses...
Canara Bank launches Special Gold Loan Business Vertical
The current pandemic has changed the socio-economic order of the country and managing everyday expenses, business continuity, health and family care are a challenge for many. Canara Bank, the fourth largest Public Sector Bank in India, has identified the emerging financial needs of customers and the need to support their...
Farmers, fishermen, animal husbandry to get concessional loans
New Delhi: In the second tranche of announcements towards the Aatma Nirbhar Bharat Package as relief towards the COVID-19 crisis, Finance Minister Nirmala Sitharaman on Thursday announced concessional credit boost for 2.5 crore farmers. In the special drive, farmers who are existing beneficiaries under the PM-Kisan scheme will be given...