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Lending rates News

28 Feb 2023

PNB, HDFC Banks Hike Key Lending Rate; Making Loans Expensive For Customers

Earlier this month, the RBI hiked key benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation.

Bank interest rates

26 Nov 2017

Tinkering in rates by banks unlikely in short-term: HDFC Bank

The Reserve Bank of India (RBI) is scheduled to announce fifth bi-monthly policy on December 6.

05 Oct 2017

RBI panel urges tougher line to get banks to pass on rate cuts

The five-member panel, set up by the RBI to look into why lenders were not passing on central bank rate cuts, said in a report on Wednesday that banks "deviated in an ad hoc manner from the specified methodologies" for calculating the lending rates in order to avoid passing on the RBI rate cuts.

Bank of America Merrill Lynch

03 Sep 2017

Lending rate cuts key to economic revival: BofAML

Lending rate cuts are key to economic growth recovery and banks should lower rates by 25 bps before the start of the busy season in October to accelerate reforms momentum, says a report.

13 Aug 2017

Saving deposit rate cuts to lead to lower lending rates: Report

eduction in saving deposit rates by three large banks over the past fortnight may set the ball rolling for lower lending rates and stoke greater competition among lenders, says a report.

Reserve Bank of India

06 Aug 2017

Lower lending rates likely post RBI policy action: BofAML

Given the Reserve Bank's "dovish" policy move, banks are expected to cut lending rates by 25 basis points, which in turn is expected to push up credit offtake, says a report.

Punjab National Bank

01 May 2017

PNB revises down MCLR by 0.10-0.15% from today

Public lender Punjab National Bank has revised down marginal cost based lending rates by 0.10- 0.15 per cent for various maturities effective Monday.

08 Feb 2017

There is scope for further cuts in lending rates: RBI Guv

RBI Governor Urjit Patel on Wednesday said there is further scope for banks to reduce lending rates as the Reserve Bank has already brought down its policy rates by 175 basis points since January 2015.

09 Jan 2017

Allahabad Bank cuts lending rate by 0.85%

Public sector lender Allahabad Bank on Monday slashed its benchmark lending rate by 0.85 percent in line with market competition.

Rate cut bandwagon

06 Jan 2017

Rate cut bandwagon: 3 more banks slash lending rates by up to 1%

Three more banks including Syndicate Bank and Citi India on Friday reduced benchmark lending rates by up to 1 percent, joining others in the rate cut bandwagon.

05 Jan 2017

Bank of Baroda joins rate cut bandwagon, slashes lending rates by up to 0.75%

Joining the rate cut bandwagon, Bank of Baroda on Thursday lowered its lending rates by up to 0.75 percent -- which will lead to cheaper home and corporate loans.

05 Jan 2017

NBFC's getting benefit after cut in MCLR

04 Jan 2017

Rate cut bandwagon: HDFC Bank, Canara Bank cut lending rates by up to 0.9%

Home and other loans are all set to be cheaper as major banks such HDFC Bank and Canara Bank joined the rate cut bandwagon by cutting lending rates up to 0.9 percent.

16 Dec 2016

Axis Bank cuts lending rates by up to 0.15%

Country's third largest private lender Axis Bank Friday announced up to 0.15 percent reduction in its lending rates, signalling a further downward trend in borrowing costs.

06 Dec 2016

Demonetisation impact: Bank of Baroda cuts lending rate by 0.2%

As banks continue to be flushed with deposits thanks to demonetisation move of the Modi government, state-owned Bank of Baroda has cut benchmark lending rates by 0.2 percent.

Punjab National Bank

30 Nov 2016

PNB, South Indian Bank lower lending rates for December

Punjab National Bank has cut the marginal cost of funds based lending rate (MCLR) by 0.05-0.10 percentage points for December across maturities of various tenors.

16 Nov 2016

Axis Bank cuts cost of lending rate by 0.15-0.20% from Friday

Private sector Axis Bank on Wednesday announced a cut in its marginal cost of fund-based lending rate (MCLR) by 0.15-0.20 percent effective coming Friday.

01 Nov 2016

Dena Bank, SBBJ cut lending rate, effective from November 1

Two public lenders Dena Bank and State Bank of Bikaner and Jaipur (SBBJ) today cut benchmark lending rates by up to 0.1 percent.

01 Nov 2016

Dena Bank lowers lending rate by 0.05%s to 9.40%

Under the revised rates, the one-year MCLR has been fixed at 9.40 percent while the most competitive overnight MCLR is 9.15 percent, the Ahmedabad-based bank said in a statement. The revised rates will be applicable from today.

31 Mar 2016

SBI, ICICI, PNB and others move to lending rates based on marginal cost

The new interest rates vary from 8.95 percent for overnight to 9.35 percent for three years, SBI said in a document posted on its website Thursday.

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