Page 2 - Loan Rates

Banks seek RBI's nod to defer penal interest guideline by 3 months

The RBI issued guidelines instructing banks to levy charges rather than increase the interest rate for borrowers who fail to meet the terms and conditions of a loan contract starting January 1, 2024

RBI to unveil regulatory framework for web aggregators of loan products

Move aimed at increasing transparency and improving lending practices

Top car loans: Compare interest rates, EMIs and processing fees

Bank of Maharashtra offers a 0.25 per cent interest rate concession for existing housing loan borrowers and corporate salary account holders

8.7% Interest, 100% on-road price: Top car loan offers this festive season

100 per cent of the on-road price, flexible EMIs, no guarantor requirement and quick processing are some of the offers lenders have unveiled this Diwali to attract new car owners

Unsecured loan growth to remain strong even with high risk weights: Report

The growth in the concerning unsecured loans segment will remain strong even if the Reserve Bank ups the risk weights for such lending, a domestic brokerage said on Tuesday. The RBI has asked lenders to be more diligent about such lending to ensure that no undue risk gets built up in the system because of high growth in unsecured assets such as personal loans and credit cards. According to some reports, the regulator may increase the risk weights for such loans, which moderates a lender's ability to lend to such segments as the capital charge goes up. "Growth can remain strong even with higher risk weights," the report by Axis Capital Research said. The note said the RBI had reduced risk weights on unsecured personal loans to 100 per cent from 125 per cent in September 2019, while credit cards continue to carry 125 per cent risk weight. If the RBI reverts the risk weight on personal loans back to 125 per cent, the core capital for banks will get hit under 0.40 per cent, the note .

Table on personal loan rates and terms of various companies

If you need a personal loan anytime soon, consider the table by Paisabazaar.com for your needs.

Table: Interest rates, terms of personal loans offered by various banks

Paisabazaar's table also tells you about EMI, process fees of lenders

Bank of Maharashtra cuts home, car loan rates by upto 20 basis points

The lender has hiked the MCLR by 10 basis points in select tenors upto one year

Monetary policy: RBI to prescribe framework to reset floating rate loans

Pulls up banks for ignoring repayment capacity while elongating repayment period

Share of loans bearing over 9% interest rate hits 56.1% in March: RBI

The share of loans bearing over 9 per cent interest rate rose to 56.1 per cent in March 2023, in tandem with the monetary tightening measures starting May 2022, said a Reserve Bank report on Friday. The Reserve Bank started raising interest in May 2022 to rein in inflation in the wake of global supply disruptions, following the Russia-Ukraine war. Since then the benchmark short-term lending rate has increased by 250 basis points. However, the RBI did not raise the rate in its last two bi-monthly monetary policy reviews. "Consistent with the monetary tightening measures during 2022-23, the share of loans bearing over 9 per cent interest rate rose to 56.1 per cent in March 2023 from 31.4 per cent a year ago," said the Basic Statistical Return on Credit by Scheduled Commercial Banks in India - March 2023. The RBI further said all population groups recorded substantially higher credit year-on-year growth in 2022-23. The annual growth in lending by metropolitan branches of banks ...

RBL aims to expand NIMs; credit cards, MFIs to outpace loan book growth

RBL Bank is targeting to expand its net interest margin (NIM) to over 5.2 per cent by the end of FY24 by upping the share of higher-yielding assets in its loan book, a top official has said. The private sector lender will continue to maintain the share of unsecured loans like credit cards and microfinance by growing them at over the 20 per cent overall loan book increase targeted for every year till FY26, R Subramaniakumar told PTI. The bank had reported an expansion in NIMs to over 5 per cent in the March quarter, in line with the industry trend. "NIM will be 5.2-5.3 per cent by the end of the year (FY24). The mix of products will deliver the higher yield," he said. Subramaniakumar said the bank is targeting to increase the share of secured retail assets like mortgage loans, loans against property, two and four-wheeler loans, which will yield higher. He admitted that given its relatively smaller size, it has to offer higher deposit rates to get the required liabilities to fund th

Have a good credit score, need quick money? Opt for unsecured loan

Since the interest rate is high and the loan tenure short, evaluate your repayment capacity carefully

Rs 40,700 cr loan sanctioned under Stand-Up India, focuses on job creation

As much as Rs 40,710 crore loan has been sanctioned to over 1.8 lakh accounts under the government's flagship Stand Up India Scheme, which is focussed on economic empowerment and job creation, according to official data. Of the funds sanctioned since the inception of the scheme in 2016, about 80 per cent of the loans have been given to women entrepreneurs. The scheme was launched on April 5, 2016 to promote entrepreneurship amongst women, Scheduled Castes (SC) and Scheduled Tribes (ST) categories by providing them loans for starting a greenfield enterprise in manufacturing, services or the trading sector and activities allied to agriculture. In the first year, Rs 3,683 crore was sanctioned which has now swelled to Rs 40,710 crore as on March 31, 2023, the data showed. As much as Rs 33,152.43 crore was sanctioned to 1.44 lakh accounts of women while 26,889 loans worth Rs 5,625.5 crore were to SCs and 8,960 loans worth Rs 1,932 crore to STs under the scheme. The scheme has since bee

Home truths: High loan rates and job losses threaten price growth

But if rate cuts begin and layoffs are limited, the housing market could repeat FY23's performance

Difference between rise in median MCLR, term deposits crosses 40 bps

Interest rates on fresh deposits have moved up faster than fresh loans

Bank of Baroda increases MCLR from 8.3% to 8.5% effective January 12

Marginal cost of funds-based lending rate (MCLR) is the minimum interest rate below which a bank cannot lend, except in certain cases

NBFC-MFIs overtake commercial banks in micro loan market share in Q2

One reason for this shift in trend could be that banks faced challenges in managing this asset class, especially after the outbreak of the Covid-19 pandemic and the resultant lockdowns

Vi in talks with SBI for loan of Rs 15K-16K crore for capex needs: Report

The talks have reportedly been going on for over a month now and SBI is waiting to get clarity on the govt's potential shareholding in Vi

60% in survey report personal data breach by their loan service provider

Four out of 10 in LocalCircles study point finger towards insurance providers or banks

Rising median loan rates lead to fall in affordability of homebuyers

A cumulative increase of 0.95 per cent in median home loan rate has impacted the purchase affordability and purchase decisions of homebuyers, according to the Affordability Index by Knight Frank