Allahabad Bank cuts MCLR by 5 bps
The benchmark one-year Marginal Cost of Fund based Lending Rate (MCLR) has come down to 8.30 per cent from 8.35 per cent earlier, the bank said in a regulatory filing.
Unable to pay home loan EMIs? Here is what you can do
Banks and NBFCs have the means to recover their dues one way or the other if the loan i...
United Bank of India cuts MCLR by five basis points
State Bank of India was first to announce 10 bps cut in MCLR last week after Reserve Bank...
Now, BoB lowers MCLR lending rates by 20 bps
The rate reduction comes even as the RBI left key policy rates unchanged at the last meeting on December 5. The city-based lender has reduced its one-year MCLR rates, which all retail loans are linked to, only marginally by 5 bps to 8.25 percent.
HDFC Bank cuts MCLR by up to 15 bps
Private sector lender, HDFC Bank, cut its marginal-cost based lending rate (MCLR) for all tenors by 15 basis points (bps). According to the bank’s website, it has cut the 6-month MCLR by 10 bps to 8 percent, 1-year rate by 15 bps to 8.15 percent
SBI reduces one-year MCLR by 10 bps
According the bank’s press release, this is its eighth consecutive MCLR cut this financial year.
Bank of India cuts one-year MCLR rates by up to 20 bps
This makes the SBI rates the cheapest and this is the eighth consecutive lending rate reduction by the largest lender since the beginning of the fiscal.
Union Bank of India cuts MCLR by up to 10 bps across tenors
After the cut, Union Bank of India's one year MCLR now stands at 8.2 percent, down from 8.25 percent. According to a press release issued by the bank, the new rates will be effective from 11 December, 2019.
UCO Bank cuts MCLR by 10 basis points across tenors
The revised one-year MCLR now stands at 8.30 per cent, down from the existing 8.40 per cent, the state-run lender said in a release.
ET Explains: What's making the pass-through of RBI's policy decisions sticky
The issue of lack of monetary transmission hasn't cropped up suddenly and is something that has been a matter of concern for the RBI in ensuring the pass-through of its policy decisions. The matter snowballed in the last few months after the RBI observed that the effects of its rate cuts are not being felt in terms of interest rates coming down.
RBI urges government to cut rates on small savings schemes
The RBI has urged the government to move forward on reducing interest rates on small savings schemes such as public provident fund (PPF) and post office deposits, to help banks pare rates on deposits and loans and lead to a better transmission of the central bank’s rate cuts.
RBI expects banks to soften lending rates even though it has kept policy rates unchanged
The central bank is expecting higher monetary transmission since the share of base rate loans, which have remained largely sticky, has come down. The marginal cost-based floating rate loans, which have annual resets, have become due.
HDFC Bank cuts MCLR by up to 10 bps
Private sector lender, HDFC Bank has cut MCLR rates by between 5 bps and 10 bps for these tenors: 6-month, 1-year, 2-year and 3-year. These rates will be effective from today, i.e., November 7. In August, the bank had cut MCLR across all tenors.
RBI keeps repo rate unchanged: What does this mean for your loans and fixed deposits?
The Reserve Bank of India, in its monetary policy review today, kept the repo rate unchanged at 5.15%
Home loan interest rates linked to repo rate
Here are the interest rate on home loans charged by the banks under the external benchmark regime. The interest rate is liked to the RBI repo rate. The table given below is applicable to salaried individuals and self-employed persons.
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