Tag: Interest Rate

Getting a loan in today’s time is a bit cumbersome as it involves a lot of verifications. And of the many criteria that the lenders opt for before approving the loan, is to check the CIBIL score.. It’s a three-digit figure issued by Credit Information Bureau of India Limited. This score ranges from anywhere between 300 to 900.

With bank credit picking up and interest rates for other savings schemes increased by the government, commercial banks will increase the interest rates on deposits, Reserve Bank of India (RBI) Governor Shaktikanta Das said.

Shaktikanta Das said the measures taken by RBI will have a sobering effect on retail prices.

Retail inflation during December 2021 hardened for the third successive month to 5.6 per cent but was lower than the consensus expectation.

Bhubaneswar/New Delhi : Introducing a two-tier interest rate structure for the savings bank accounts, State Bank of India (SBI), on Monday, slashed the interest rate on deposits of up to Rs 1 crore by 0.5 per cent to 3.5 per cent, triggering rate war among peers. The decision of the bank came two days ahead […]

Mumbai: Ahead of the Reserve Bank of India’s (RBI) monetary policy review early in February, India Inc on Thursday urged the central bank to cut its interest rate and the cash reserve ratio (CRR) in order to boost growth. In a meeting here with the new RBI Governor Shaktikanta Das, who will preside over his […]

Mumbai: The country’s largest lender, State Bank of India (SBI), has effected the process for transmission of low interest rates to its borrowers and depositors. In a late Friday decision, the bank announced that it has it linked interest rate on savings account with a balance above Rs 1 lakh and short-term loans to the […]

Good news for account holders of State Bank of India (SBI) as interest rates on home, auto and other loans across all tenors has become cheaper. The SBI has lowered the marginal cost of fund-based lending rate (MCLR) to 8.50% for the one-year tenor, down from 8.55%. A day after the RBI cut its repo […]

Good news for the Employees’ Provident Fund Organisation (EPFO) subscribers as the Labour Ministry has rejected a proposal from the Finance Ministry to slash interest rate offered by the EPFO. After the Finance Ministry reduced interest rate on General Provident Fund (GPF) and other similar funds to 7.9 per cent from 8 percent for the […]

New Delhi: The State Bank of India (SBI) on Wednesday cut interest rate on savings deposits, with a balance of upto Rs 1 lakh, by 25 bps to 3.25 per cent from November 1, and slashed retail & bulk term deposit interest rates by 10 and 30 bps respectively for 1 year to less than […]

Mumbai: Concerned over elevated inflation, Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying more rate cuts in the future if need arises to support the economy hit by the COVID-19 pandemic. The benchmark repurchase (repo) rate has been left unchanged […]