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.
Should you take loans linked to benchmarks other than repo rate? Which banks offer these?
According to the RBI Monetary Policy Report, 36 ban...
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 ...
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).
Bank of Maharashtra introduces new external benchmark based lending rate, cuts MCLR
For overnight, one month, three months and six months, MCLR have been reduced to 7.40 per cent, 7.50 per cent, 7.60 per cent and 7.70 per cent, respectively.
These banks have cut interest rates on loans
For instance, Bank of Baroda announced that it has reduced its repo-linked lending rate (BRLLR) by 75 bps with effect from March 28, 2020.
External benchmarks may not bring down loan rates
NPA-laden banks may increase spreads over benchmark rates to protect their profitability.
What RBI's announcement today means for your loans and fixed deposit interest rates
The RBI announced a host of measures today aimed at increasing liquidity in the economy.
SBI to pass on interest rate changes faster to home loan borrowers: Rates to be reset 6 monthly
The State Bank of India latest announcement will help the borrowers whose loans are linked to the marginal cost of lending rate (MCLR) to be able to benefit from the future policy rate cuts from the Reserve Bank of India (RBI) faster.
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.
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.
Indian Bank cuts one-year MCLR rate by 5 basis points
Most of the consumer loans such as personal, auto and home were priced on the basis of the one-year MCLR prior to the introduction of repo-linked lending rate (RLLR).