Tag: Home loans

SBI slashes lending rate by 15 bps across all tenors; launches spl deposit scheme for senior citizens

The bank also slashed its interest rates on retail term deposits by 20 basis points for 'up to 3 Years' tenor, effective from May 12.

May 7, 2020

SBI cuts MCLR for nine consecutive month

SBI has also decided to cut in the retail fixed deposits or FD rates. The reduction in MCLR and FD rates will come into effect from February 10.

February 7, 2020

SBI Alert! Things all customers must know before New Year 2020 kicks in

With the new year knocking at our doors, SBI is going to make a few important changes and introduce some new policies aimed to benefit the people.

December 31, 2019

RBI raises repo rate, home loans to be costlier

In line with equity and financial markets expectations, the Reserve Bank of India’s six-member monetary policy committee on Wednesday increased its policy repurchasing or repo rate (at which it lends short-term loans to commercial banks) by 25 basis points or 0.25 per cent from 6.25 per cent to 6.50 per cent. This is the second …

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August 2, 2018

Home loans to get cheaper as RBI slashes risk weight

Home loans may get cheaper with bankers indicating that interest rate on such loans will come down following reduction of risk weights by the RBI. The decision to reduce the risk weights for home loans over Rs.30 lakh category will release capital for the banking industry and is a positive move, SBI chief Arundhati Bhattacharya …

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June 8, 2017

You can withdraw 90% EPF to buy home, pay EMI from account

Over four crore subscribers of the retirement fund body EPFO can now make down payment and pay EMIs from their EPF accounts to buy homes. The subscribers of the the Employees Provident Fund Organisation (EPFO) will be able to withdraw up to 90 per cent of their accumulations in their PF account for purchase of …

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April 24, 2017

Home loans turn cheaper, banks cut rates

Home loans are set to turn cheaper with state-run Bank of Baroda on Monday lowering its rate to as low as 8.35 per cent — the lowest across industry –while some other lenders including Allahabad Bank and Bank of Maharashtra also cut their rates for housing and other loans. Smaller private sector player Sundaram BNP …

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January 9, 2017

Citi India cuts lending rate by 0.7%

Joining the lending rate cut spree, foreign lender Citi India on Friday reduced its home loan rate by 0.7 per cent. It will reduce the interest rate to 8.80 per cent from 9.50 per cent, effective January 9, Citi India said in a statement. The reduction in the home loan rate is reflection of our …

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January 6, 2017