ING Vysya Bank has hiked its base rate

By | August 12, 2011

A recent press report said that ING Vysya Bank has revised its base rate by 0.25 per cent. The bank has hiked its base rate to 10.45 per cent as against the current rate of 10.20 per cent per annum. The bank has announced that the revised rate will be applicable to all existing loans which are linked to the bank’s base rate effective October 1.

The bank offers loans such as home loan, home equity loans, personal loan, NRI home loan, loan against securities etc. The bank also increased its bank reference rate by 0.25 per cent to 19 per cent and the home loan reference rate by 0.25 per cent to 19.5 per cent effective from October.

ING Vysya Bank Limited is an entity formed with the coming together of erstwhile, Vysya Bank Ltd, a premier bank in the Indian Private Sector and a global financial powerhouse, ING of Dutch origin, during Oct 2002. The origin of the erstwhile Vysya Bank was pretty humble.

It was in the year 1930 that a team of visionaries came together to form a bank that would extend a helping hand to those who weren’t privileged enough to enjoy banking services.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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