Bank

LIC HFL reduces home loan rates by 0.25 per cent

Housing finance company LIC Housing Finance (LIC HFL) on Monday said it has reduced home loan rates by 0.25 per cent with effect from October 15. The new rates on home loans are applicable up to November 30. LIC HFL is also offering lower processing fee during the period, a company press release said. “The rate of interest for Bhagyalakshmi ... Read More »

Corporation Bank cuts lending rates on home, auto loans

State-owned Corporation Bank on Friday reduced interest rates on home, auto and consumer durables loans by up to 1.75 per cent to cash in on the festival season demand. The bank cut lending rate on home loans by 0.50 per cent, while the reduction in rates for auto loans is 1 per cent. The cut in lending rate for consumer ... Read More »

RBI explores SMS-based mobile banking on all types of handsets

The Reserve Bank is exploring the possibility of providing SMS-based mobile banking on all types of handsets and has formed a committee to consider the feasibility of such a facility. A Technical Committee on Mobile Banking has been set up to “examine the options/alternatives including the feasibility of using encrypted SMS-based funds transfer using an application that can run on ... Read More »

SBI slashes interest rates on car, consumer goods

State Bank of India (SBI) on Wednesday reduced interest rates on loans for car and consumer durables and also decided to lower processing charges to cash in on the festival season demand. SBI is the fourth bank after PNB, OBC and IDBI Bank to offer special interest rates for loans to buy automobiles and consumer durables like televisions, air conditioners ... Read More »

PNB, OBC cut lending rate on car loans; SBI to follow suit

Within days of government promising more funds to PSU banks, state-run lenders Punjab National Bank (PNB) and Oriental Bank of Commerce(OBC) on Tuesday cut lending rate on auto and consumer durable loans by up to 2.50 per cent to cash in on the festive demand, while State Bank of India (SBI) said it is looking at reducing rates on credit ... Read More »

SBI says no to home loan rate cut, but car, consumer goods to be cheaper

Newly appointed SBI Chairperson Arundhati Bhattacharya (in centre) flanked by Hemant Contractor, Group Executive of International Banking and A Krishna Kumar, Managing Director of State Bank of India during a press conference in Mumbai on Tuesday, Oct 9, Ruling out any lowering of interest rates on the home loan front, State Bank of India on Tuesday said that it will ... Read More »

Apollo Munich ties up with Canara Bank for sale of its policies

Apollo Munich Health Insurance has tied up with state-owned Canara Bank to distribute its products from the bank’s branches. Canara Bank with 5 crore customers has over 4,200 branches spread across the country. “Under the arrangement, the bank will act as a corporate agent for selling the company’s products,” Apollo Munich Health Insurance Chairman Prathap C Reddy said. “With Canara ... Read More »

Banks get more capital to offer cheaper loans for auto, consumer durables

The government has decided to enhance capital infusion into the Public Sector (PSU) banks over and above what was provided in the budget to enable them to extend more credit to auto and consumer durables sectors to stimulate demand and combat slowdown. The decision to increase the quantum of capital infusion was taken at a meeting between Finance Minister P ... Read More »

HDFC says won’t cut interest on consumer durable loans

Photo: Reuters HDFC Bank on Friday said it will not reduce interest rates for consumer durable loans ahead of the festive season, although state-owned lenders might do so on a call by the Finance Ministry to boost demand. “No, we will not be reducing the interest rates (on consumer durable loans). We are already providing such loans at a competitive ... Read More »

Banks get more capital to offer cheaper loans for auto, consumer durables

The government has decided to enhance capital infusion into the Public Sector (PSU) banks over and above what was provided in the budget to enable them to extend more credit to auto and consumer durables sectors to stimulate demand and combat slowdown. The decision to increase the quantum of capital infusion was taken at a meeting between Finance Minister P ... Read More »