Maruti Udyog and BoB, Maruti sign MoU to finance cars

Bank of Baroda and Maruti Suzuki India, have signed a Memorandum of Understanding whereby dealers of Maruti cars would apprise prospective Maruti car-buyers about the car-loan advantages of the bank and help them in applying for it.
The nearest branch of the bank will promptly process the application and disburse the loan within 48-hours, a press [...]

Mantra of ‘Affordable housing’

Low cost housing – that had almost become a bad word for real estate companies – is the latest buzzword in the business now hit by an economic slowdown. Companies, which prided in building luxury villas and houses for higher segments, have suddenly started chanting the mantra of `affordable housing.’
“Villas for Rs 55 lakh are [...]

Home loans will be cheaper

Most people heaved a sigh of relief when they heard the news of public sector banks reducing their lending and deposit rates. Many of them think that finally they would be able to get cheap home loans.
But according to financial experts, the jubilation is likely to be short lived. This is because they believe that [...]

Citibank slashes PLR by 50 bps to 15 percent

Reversing the hardening interest rate cycle, country’s largest bank State Bank of India, foreign lender Citibank and four other banks today announced cut in their benchmark lending rates by up to 75 basis points, thus paving way for cheaper home loans, personal and auto loans.
SBI was the first bank to announce cut in the Prime [...]

50 bps reduction in Home loan & Education Loan rates by IDBI Bank

Shortly after Reserve Bank cut its key rates, IDBI Bank on Saturday reduced its home and educational loan rates by 0.5 per cent with immediate effect.
The rate cut will be applicable to both the existing and new customers, the bank said in a press statement here.
Following the revision, the home loans will be now available [...]

FM to ask PSU banks to lower lending rates

Stating that the RBI’s policy was also a signal to the banks that they should now now consider lowering their interest rates, the Finance Minister said he would take the issue of interest rate cut “forward” during a meeting with chairpersons of public sector banks in Delhi on November 4.
The RBI had recently cut [...]