Don’t let the money that you save lie around in your bank account. Keep a certain amount for an emergency and invest the rest in the best options for investment. You have to educate yourself about the options available. Try to increase your investments steadily every month.
As credit demand moves up typically in the third quarter, the bankers are unlikely to hike the lending rates before October. Also, the RBI has shot down the bank’s proposal of introducing a sunset clause for existing borrowers forcing them to switch to the new Base rate system. This means that banks will give attractive… Read More »
The 2nd biggest PSU lender in the country, Punjab National Bankmay be increasing its deposit rates by 25-50 basis points shortly. The increase in deposit rate follows the recent increase in repo and reverse repo rates by RBI during the monetary policy review.
Leading personal loan lender, Central Bank of India has reported a 26.22% increase in its net profits for Q1 of FY 2010-11. The bottom line (net profit) of the bank in this quarter is Rs 337 crore as against Rs 267 crore in previous quarter.
CRR rates expected to increase by 25-50 basis points; personal loans may become costlyThe biggest home loan lender in the country, State Bank of India has tied up with Oxigen Services Pvt. Ltd and its subsidiary Sahyog Microfinance Foundation so as to offer banking services to customers by directly connecting them to SBI’s core banking… Read More »
Car loan lender Central Bank of India has introduced with a new service called CentFast2India. The service has been introduced to promote e-transfer of remittances from USA.
Rising credit offtake in Q1 of FY 2010-11 has enhanced the aspirations of Andhra Bank. The bank has fixed a goal of 25-27% rise in its loan book in this fiscal. Fall in cost of deposits has helped the bank to calculate its net interest margin (NIM) at 3.5% in this year.
In a bid to contain inflation and anchor inflationary expectations, RBI has announced a change in both the repo and reverse repo rates. The repo rate has increased by 25bps to 5.5% while the reverse repo rate has been increased by 50 bps to 4.5% with immediate effect. Bank rate, CRR and SLR have been… Read More »
ICICI Bank has stated that loan rates may go up after September. Chanda Kochhar, ICICI Bank MD and CEO said, “There is clearly an upward bias. An increase in deposit rates does not translate into a rise in the cost of funds immediately. It usually happens with a lag”.
The biggest personal loan lender in the country, ICICI Bank has increased deposit rates by 25 to 75 basis points. One basis point equals 0.001% point. The bank has also stated that increase in lending rates in expected in immediate future.