Lending Rate

The initial focus of the Unified Lending Interface is to provide small-ticket loans and improve collection efficiency

Local firms are fueling competition with global giants such Cerberus and Oaktree Capital Management

The one-year loan prime rate (LPR) was lowered by 25 basis points to 3.10 per cent from 3.35 per cent,

CSB Bank on Monday reported a 14 per cent decline in the June quarter net profit at Rs 113 crore due to an increase in bad loans. The private sector lender had earned a net profit of Rs 132 crore in the year-ago period. However, total income increased to Rs 1,004 crore from Rs 803 crore a year ago, CSB Bank said in a regulatory filing. Interest income grew to Rs 832 crore during the period under review, from Rs 683 crore a year ago. The bank's asset quality worsened as Gross Non-Performing Assets (NPAs) rose to 1.69 per cent of gross advances as of June 30, 2024, from 1.27 per cent at the end of the first quarter of the previous fiscal. Net NPAs also increased to 0.68 per cent of the advances, from 0.32 per cent at the end of the first quarter last year. As a result, provisions and contingencies increased to Rs 20 crore from Rs 5 crore earmarked during the same quarter a year ago. The capital adequacy ratio of the bank improved to 23.61 per cent, as compared to 25.99 per cent on

The weighted average lending rate by scheduled commercial banks on fresh loans increased to 9.45 per cent in January 2024 compared to 9.32 per cent in December 2023

Interconnectedness must be watched carefully

Repo rate remains at 6.5%; FY24 inflation forecast up at 5.4%; surprise incremental CRR move to drain out over Rs 1 trillion

'Good sustenance in home buying', says mortgage lender in statement

The revised rates will be effective from December 12

The RBI came out with the guidelines on digital lending in September and gave time until November 30 for players to comply with the 'existing loan' category

The hike in lending rates shall be applicable to home loans and consequently, equated monthly instalment payments made by customers.

LIC Housing Finance increased its Prime Lending Rate by 50 basis points. With this the new interest rates on home loans will now start from 8 per cent as against 7.50 per cent earlier.

The number of loans disbursed through our platform grew 492% y-o-y to 8.5 million loans in the quarter ending June 2022, while the value of loans disbursed grew 779% y-o-y to Rs 5,554 crore ($703 mn)

The state-owned lender cut overnight and one-month MCLR by 25 bps to 6.90 per cent and 7 per cent

Average long-term US mortgage rates had their biggest one-week jump in 35 years with the Federal Reserve this week raising its key rate by three-quarters of a point in bid to tame high inflation. Mortgage buyer Freddie Mac reported on Thursday that the 30-year rate climbed from 5.23 per cent last week to 5.78 per cent this week, the highest its been since November of 2008 during the housing crisis. Wednesday's rate hike by the Fed was its biggest in a single action since 1994. The brisk jump in rates, along with a sharp increase in home prices, has been pushing potential homebuyers out of the market. Mortgage applications are down more than 15 per cent from last year and refinancings are down more than 70 per cent, according to the Mortgage Bankers Association. Those figures are likely to worsen with more Fed rate increases a near certainty. The Fed's unusually large rate hike came after data released last week showed US inflation rose last month to a four-decade high of 8.6 per

Several banks have revised their lending rates based on repo and marginal cost of funds

The lending rate revision by SBI is likely to be followed by other banks in the days to come

The MPC of the central bank maintained the repo rate, or short-term lending rate, for commercial banks, at 4 per cent

The highest gainer was Federal Bank Ltd, which rallied 2.2% to end at Rs 104.4

State Bank of India (SBI) has increased benchmark lending rate or base rate by 0.1 per cent, a move that may be followed by other lenders.