Prepayment penalty on home loans set to go

Banking leader State Bank of India dropped ‘prepayment charges’ on all its loans over the past fortnight. The announcement coincided with the hiking of the bank’s base rate and withdrawal of the controversial teaser home loan schemes. With the SBI taking the lead, other banks are now expected to follow suit and withdraw the controversial […]

RBI increase interest rate on savings a/c to 4%

Worry value on the money untruthful in savings funds accounts gift go up by half a proportion muzzle with the Correctitude Container determinative to hike it to 4 per coin. The deposit-holders in the Savings Bank(SB) were receiving the grade unchangeable octad eld ago. Withal, the move module refer the expenditure of borrowing for the […]

Yes Bank to close loan promotion deal with HDFC

In order to augment its fee income component, private sector Yes Bank is on a spree of partnering with non-bank lenders catering to different segments and is in the “final stages” of tying up with mortgage lender HDFC, a top official said. “We are in the process of signing up with HDFC Ltd for distributing […]

LICHF to withdraw special plan

LIC Housing Finance, the second largest mortgage company in the country, will soon withdraw its special scheme where loans are available at a fixed rate for the first five years. The company came out with a reworked scheme in view of the rising interest rates. The fixed and floating rate combination product is the only […]

ICICI Bank: Rate rise may hurt margins

ICICI Bank ended the quarter to March reporting good numbers — a strong 44% growth year-on year in net profit along with an improvement in asset quality and a better-than-expected growth in net interest income. This comes after almost six quarters of a consolidation phase. However, slower growth of its overseas subsidiaries including the UK, […]