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Maha reports 8,142 new COVID-19 cases

Total cases in the state rise to 16,17,658, including 42,633 deaths and 14,15,679 recovered patients. Active cases stand at 1,58,852.
The Economic Times
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| 21 October, 2020, 11:36 PM IST | E-Paper
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    SEARCHED FOR:INTEREST RATES

    Credit card users to gain more from ‘interest on interest’ waiver

    The point to note, a public sector bank official said, is that the government’s proposal waives interest on interest during the moratorium, but borrowers still have to pay the simple interest for the moratorium period.

    Downing interest rate, at what cost?

    In India, it is an accepted rule that when it comes to interest rates, they should always come down.

    Home loan interest rates at historic low as SBI, Axis, Kotak Mahindra Bank announce festive offers

    As part of its festive offer, the State Ba...

    • With the festive season in full swing most top banks are offering concessionary rates on home loans along with waiver in processing fee to lure home buyers. ET takes a look at the steep fall in interest rates on home loans for salaried borrowers in the last one year.

      SBI now offers interest rates starting as low as 6.90% for a home loan of up to Rs 30 lakh and 7% for above Rs 30 lakh. With SBI’s lowest interest on home loans, this move will facilitate and encourage home buyers to plan their dream house.

      In its affidavit, the finance ministry said the government has decided to maintain its tradition of handholding small borrowers and bear the burden arising from such waiver of interest on interest, or compound interest, for the banks.

      The government’s proposal to pick up the tab for the waiver of 'interest on interest' on loans of up to Rs 2 crore clears the uncertainty over bank earnings for the quarter, giving them room to offer liberal loan-rejig terms to stressed borrowers.

      ​​​Financial planners point out that corporate deposit rates are on a downward trend in line with the general fall in rates in the system and easy liquidity.

      While taking this loan, the potential borrower is not required to provide collateral or security against the loan, unlike in a gold loan where gold jewellery is taken as security by the lender. Here are the interest rate charged by banks for taking a personal loan.

      Governor Shaktikanta Das said that the rise in prices is due to supply side shocks caused by lockdowns and restrictions in movements across the country.

      This is in contrast to usual directives from the authority to developers to pay penalty for delayed possession to a homebuyer.

      Bank Fixed Deposit (FD) rates have reduced considerably: from 8-10% per annum until a few years ago, interest rates offered on bank FDs toda...

      In its affidavit, the finance ministry said the government has decided to maintain its tradition of handholding small borrowers and bear the burden arising from such waiver of interest on interest, or compound interest, for the banks.

      To meet a financial emergency requirement, an individual has various options. Some of these options include taking a loan or redeeming their investments. One such option includes taking a gold loan. Here are the interest rate charged by a bank/NBFC on gold loans.

      Policy rates cannot dip below a threshold, beyond which a rate cut could be counter-productive and lead to an economic contraction rather than stimulating it, according to a research report by SBI economists.They further said that lowering policy rates below 3.

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