PNB contemplating a rate cut

If the inflation comes down and RBI cuts the short term lending (repo rate) later this week, the country’s second largest public sector lender Punjab National Bank may consider a cut in interest rates.
PNB Chairman and Managing Director K C Chakrabarty said, “We have already reduced the interest rate but there is always a chance [...]

50 bps reduction in home loan rate by UBI

Union Bank of India on Monday became the first bank to reduce its home loan rates by 0.50 per cent after the Reserve Bank slashed its key short-term repo rate by one per cent.
The new interest rate, with effect from tomorrow, will be 11 per cent, the bank said in a release issued here.
The public [...]

Credit card companies raise interest rates

Credit limits are being slashed and the interest rates charged by credit card companies are gradually rising and we can blame all this on the current liquidity crunch.
In the last two months, major credit card companies like State Bank of India (SBI) and HDFC have increased the range of the slabs under which their interest [...]

RBI’s CRR cut might curb the rising home loan rates

The Reserve Bank of India’s cut in the cash reserve ratio has released Rs 20,000 crore into the market—happy news for home loan borrowers because it may stop rise in interest rates.
HDFC chairperson believes Deepak Parekh the fall in oil prices, moderated inflation and rising liquidity will cap interest rates. “Oil prices are coming down, [...]

Countrywide Borrowers to get $8.4 billion homeowner rescue plan

A huge $8.4 billion homeowner rescue plan announced Monday by the Bank of America will provide some relief for an estimated 125,000 Californians who are having trouble making payments on sub-prime loans and other risky mortgages from Countrywide Home Loans.
The bank’s “Home Ownership Retention Program for Countrywide Customers” was devised by California and 10 other [...]

SBI Home Loan Mahotsav

A property fair, SBI Home Loan Mahostsav 2008, has been organized by State Bank of India. The three-day fair was inaugurated by the bank’s Chief General Manager, Bengal Circle, Mr Jayanta Kumar Sinha, here on Tuesday. A cross-section of builders and real estate developers catering to both low-income as well as high-income segments such as [...]