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State-owned Central Bank of India has reduced the fixed deposit rates by up to 100 basis points or 1 % on select maturities, signaling reversal of the trend of rising rate. Term deposit with maturity between 91-179 days, would witness a decrease of 100 basis points (or 1 %) from 8 per cent to 7 […]

Psu banks have put bad loans worth around Rs 6,500 crore on auction for bidding by asset reconst­ruction companies (ARCs). As per data available up to March 11, the bulk of the non-performing assets arose from loans given to mid-sized companies and small and medium scale enterprises (SMEs). Retail loans such as home loans, credit […]

Being a senior citizen has its advantages. Banks (private as well as public banks) are giving special privileges to the senior citizens as traditionally banks offered them 0.25-0.5% higher rates on fixed deposits compared with that to ordinary investors. But now few banks are offering senior citizens almost 1% more! The reason being senior citizens […]

In spite of a sharp rise in interest rates personal loans grew by 16.2%in February 2011. This is higher than the growth of 4.1% last February (2010). Based on the data provided by the Reserve Bank of India (RBI) most of the components of personal loan such as housing, advances against fixed deposits, vehicle loans […]

Buying a car is perhaps the first big ‘buy’ for most of us. And to make a well-informed decision, we need to work out the logistics of car ownership in its entirety, and not just limit it to the cost of the car. Apart from the EMIs (equated monthly instalments) on your car loans, there’s […]