EXTERNAL BENCHMARKING LOAN
Allahabad Bank lowers external benchmark-linked loan pricing
The Asset Liability Management Committee (ALCO) of Allahabad Bank on Saturday announced a cut of up to 40 basis points in interest rate on external benchmark-linked products.
Bank of India slashes external benchmark lending rate by 75 bps
The lender's external benchmark lending rate is linked to the RBI's repo rate...
These banks have cut interest rates on loans
For instance, Bank of Baroda announced that it has reduced its repo-linked lending rate (BRLLR) ...
The events that led to external benchmarking of loans and what borrowers should do now
The year 2019 saw the shift in the way interest rates loans to be charged. The Reserve Bank of India announced that with effect from October 1 interest rate on all new floating loans has to be linked to any of the four external benchmarks.
SBI reduces external benchmark rate by 25 bps; loans to get cheaper
The revised effective benchmark lending rate of 7.8 percent (down from 8.05 percent) will come into effect from January 1, 2020. New home buyers will get loans at an interest rate starting from 7.9 percent a year(previously at 8.15 percent).
Benchmarks witness 7th consecutive week of losses
Analysts say if Nifty falls below 7,500, it could go down further by another 13-15%.
SBI cuts benchmark lending rates, deposit rates also reduced
The reduction in the MCLR will cut the equated monthly installments (EMIs) on home loans linked to MCLR by around Rs 7 per Rs 1 lakh on a 30 year loan. EMIs on car loans will also be reduced by Rs 5 per Rs 1 lakh on a 7 year loan, SBI said. One basis point is 0.01 percentage point.
External benchmarks may not bring down loan rates
NPA-laden banks may increase spreads over benchmark rates to protect their profitability.
From Oct, loans to be linked to external benchmarks. How will this impact borrowers?
Loans linked to external benchmarks are going to be the norm from October 1.
Allahabad Bank launches external benchmark linked loans for retail borrowers
With the introduction of these products, the bank is passing on the benefit of lower interest rate in the range of 5-150 bps from the existing rate of interest under MCLR.
External benchmarks for loan pricing puts cart before the horse
Moving floating interest rate loans would push banks, borrowers and the RBI itself into unchartered territories.
Same mechanism for loans, liabilities: HDFC may link rates to external benchmarks
Move to be discussed at next asset liability committee meeting to be held in two weeks.
Mandatory to link loans for housing, autos, MSEs to external benchmark: RBI to banks
With a view to allow faster transmission of rate cuts to consumers, the Reserve Bank of India on Wednesday said the banks must mandatorily l...
RBI makes it mandatory for banks to link retail, SME loans to external benchmark
Existing loans linked to the MCLR, Base Rate or BPLR will continue till repayment or renewal.
Top 5 banks' home loan interest rates
The Reserve Bank of India has directed banks to link their lending interest rate to an external benchmark rate such as repo rate. The aim is to provide greater transparency and faster transmission of changes in the policy rates.
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