interest rate

Kotak Mahindra Bank slashes home loan rates further to a decadal low

This special rate of 6.50 per cent is a limited period festive season offer beginning 10th September and ending 8th November 2021, said the private sector lender.

published on : 9th September 2021

RBI's MPC begins deliberations; likely to maintain status quo on interest rate

When RBI left the benchmark interest rate unchanged at 4 per cent at its June policy meet, it was the sixth time in a row that its monetary policy committee maintained status quo on interest rate.

published on : 4th August 2021

RBI likely to maintain status quo on interest rate, observe macroeconomic situation

An expert said that growth concerns and weak demand conditions owing to impact of second wave of COVID on employment puts constraints on any change in stance by the MPC.

published on : 1st August 2021

LIC Housing Finance slashes home loan rates to all-time low of 6.66 per cent.

The rate of interest will be linked to the borrower's creditworthiness, as reflected by their CIBIL scores.

published on : 2nd July 2021

In a relief for savers, Govt keeps interest rates on small savings schemes unchanged for Q2

Public Provident Fund and National Savings Certificate will continue to carry an annual interest rate of 7.1 per cent and 6.8 per cent, respectively, in the second quarter as well.

published on : 1st July 2021

RBI between rock and a hard place, no rate hikes likely in FY22

It can be noted that after responding with deep rate cuts initially, the RBI has limited itself to using non-conventional tools to help the growth process in the economy.

published on : 29th June 2021

'Interest rate cut on saving plans had Finance Minister, Election Commission's nod', reveals RTI

Details of communications between the Department of Economic Affairs and the EC received through RTI revealed that the DEA had written to the EC on March 31 seeking its approval on the rate cut.

published on : 14th June 2021

Putting money to work is the only way to wealth

The Reserve Bank of India (RBI) left key borrowing rates unchanged last week.

published on : 7th June 2021

'Orders issued by oversight': Government withdraws cut in small savings rates

Finance Minister in a tweet said that the overnight order has been withdrawn and interest rates on small savings will be retained at level of fourth quarter of last financial year.

published on : 1st April 2021

Centre raises interest rates on PPF by up to 0.4 per cent

The interest rate for the five-year term deposit, recurring deposit Senior Citizens Savings Scheme has been raised to 7.8, 7.3 and 8.7 per cent, respectively.

published on : 20th September 2018

After SBI, PNB hikes lending rates from 8.15 to 8.30 per cent

The Punjab National Bank (PNB) on Thursday increased its Marginal Cost of Funds Based Lending Rate (MCLR) by 15 bps, with immediate effect.

published on : 1st March 2018

Small depositors hit across nation as banks slash savings rate

At a time when banks are flooded with surplus liquidity, margins get squeezed and credit growth continues plunging, more banks are likely to slash interest rates on savings bank accounts.

published on : 6th August 2017

After SBI, Bank of Baroda cuts interest rate on savings account by 50 bps

Effective tomorrow, the interest rate on savings bank balance of up to Rs 50 lakh has been reduced to 3.5 per cent from the current annual 4 per cent.

published on : 4th August 2017

Arun Jaitley defends SBI decision to cut savings account interest rate

The Union Finance Minister said to protect the interests of senior citizens, the government has already floated a deposit scheme that guarantees 8-plus per cent interest rate.

published on : 3rd August 2017
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