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The Reserve Bank today said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate.

This is the fifth consecutive rate hike after a 40 basis points increase in May and 50 basis points hike each in June, August and September.

Home, auto and other loan EMIs are set to rise further after RBI on Friday raised the key interest rate by 50 basis points, the third straight increase since May in an effort to cool stubbornly high inflation.

Home, auto, and other loans' EMIs will rise after the Reserve Bank of India on Wednesday raised its key interest rate by 50 basis points, the second increase in five weeks.

Credit to medium industries saw a remarkable growth of 48.6 per cent in October 2021 size-wise compared to 20.8 per cent growth seen in October 2020

Under the M-Protect covid plan, Mahindra will provide its customers with a health cover of Rs. 1 lakh through a unique COVID Mediclaim policy covering the customer in case they contract COVID-19 with home quarantine benefits.

The Reserve Bank of India (RBI) on Friday permitted commercial banks and other financial lenders to allow borrowers to delay their loan repayments by a period of three months. The move by the regulator complemented the government's announcement of a Rs 1.7 lakh-crore fiscal package the previous day to help the poor survive the 21-day countrywide lo...

Festival-bound demands for home and auto loans now get cheaper with external benchmark linked rates.

State Bank of India (SBI), the country's largest bank, recently said that it would adopt the repo rate as external benchmark for all its floating rate-based loans from October 1. The change will impact floating rate loans for small businesses, home and retail loans, the bank said in a statement. Repo rate is the interest rate at which the Reserve B...

IDBI Bank had earlier said that it would introduce repo rate-linked home and auto loans with effect from September 10.

Indian banks largely price their MCLR benchmark loan rates according to the cost of deposits. With this cut, the bank's lending rates on products like auto or home loans may also come down.

Housing loan, car loan, personal loan, loans against property and education loans are some of the products offered by SBI. The interest rates applicable on these loans vary, depending upon the class of loan and term, among other factors, according to SBI's website - sbi.co.in.

In a surprise move, the Reserve Bank of India (RBI) on Thursday reduced the repo rate by 25 basis points or 0.25 per cent. The central bank also changed its policy stance to "neutral" from "calibrated tightening". The repo rate - which is the key interest rate at which the RBI lends short-term funds to commercial banks - now stands at 6.25 per cent...

While Indian Bank and Karur Vysya announced up to 10 basis point hike in their MCLR or marginal cost of funds-based rates, Bank of Maharashtra signalled at an upcoming hike. Higher MCLR means higher EMIs for repaying loans.

SBI had cut its interest rates on home loans and auto loans in November, 2017.

The Reserve Bank today said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate.

This is the fifth consecutive rate hike after a 40 basis points increase in May and 50 basis points hike each in June, August and September.

Home, auto and other loan EMIs are set to rise further after RBI on Friday raised the key interest rate by 50 basis points, the third straight increase since May in an effort to cool stubbornly high inflation.

Home, auto, and other loans' EMIs will rise after the Reserve Bank of India on Wednesday raised its key interest rate by 50 basis points, the second increase in five weeks.

Credit to medium industries saw a remarkable growth of 48.6 per cent in October 2021 size-wise compared to 20.8 per cent growth seen in October 2020

Under the M-Protect covid plan, Mahindra will provide its customers with a health cover of Rs. 1 lakh through a unique COVID Mediclaim policy covering the customer in case they contract COVID-19 with home quarantine benefits.

The Reserve Bank of India (RBI) on Friday permitted commercial banks and other financial lenders to allow borrowers to delay their loan repayments by a period of three months. The move by the regulator complemented the government's announcement of a Rs 1.7 lakh-crore fiscal package the previous day to help the poor survive the 21-day countrywide lo...

Festival-bound demands for home and auto loans now get cheaper with external benchmark linked rates.

State Bank of India (SBI), the country's largest bank, recently said that it would adopt the repo rate as external benchmark for all its floating rate-based loans from October 1. The change will impact floating rate loans for small businesses, home and retail loans, the bank said in a statement. Repo rate is the interest rate at which the Reserve B...

IDBI Bank had earlier said that it would introduce repo rate-linked home and auto loans with effect from September 10.

Indian banks largely price their MCLR benchmark loan rates according to the cost of deposits. With this cut, the bank's lending rates on products like auto or home loans may also come down.

Housing loan, car loan, personal loan, loans against property and education loans are some of the products offered by SBI. The interest rates applicable on these loans vary, depending upon the class of loan and term, among other factors, according to SBI's website - sbi.co.in.

In a surprise move, the Reserve Bank of India (RBI) on Thursday reduced the repo rate by 25 basis points or 0.25 per cent. The central bank also changed its policy stance to "neutral" from "calibrated tightening". The repo rate - which is the key interest rate at which the RBI lends short-term funds to commercial banks - now stands at 6.25 per cent...

While Indian Bank and Karur Vysya announced up to 10 basis point hike in their MCLR or marginal cost of funds-based rates, Bank of Maharashtra signalled at an upcoming hike. Higher MCLR means higher EMIs for repaying loans.

SBI had cut its interest rates on home loans and auto loans in November, 2017.