ING Vysya Bank hikes lending rate by 25 basis points

The revised rate has been applied to all the existing loans

Private sector ING Vysya Bank hiked lending rate by 25 basis points. With the increase, base rate or the minimum lending rate will be 9.70% against 9.45% earlier, ING Vysya Bank said in a statement.

The revised rate has been applied to all the existing loans which are linked to base rate with effect from 21st June. Following this new housing, auto and other loans would become costlier.

The bank has also raised the benchmark prime lending rate by 25 basis points to 18.25%.

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Axis Mutual Fund launches 368 days fixed term plan

Axis Mutual Fund new issue closes on 28th June

Axis Mutual Fund has launched Axis Fixed Term Plan-Series 14 (368 days), a close-ended income scheme.

The investment objective of the scheme is to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the respective plan(s). The tenure of the scheme is 368 days.

The new issue closes on 28th June. The minimum investment amount is Rs5,000.

Crisil Short-Term Bond Fund Index is the benchmark index. Ninad Deshpande and Sivakumar are the fund managers.

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DSP BlackRock MF introduces three months fixed maturity plan

DSP BlackRock MF new issue closes on 27th June

DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-Series 2-3M, a close-ended income scheme.

The investment objective of the scheme is to generate returns and capital appreciation by investing in debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the scheme. The tenure of the scheme is three months.

The new issue closes on 27th June. The minimum investment amount is Rs5,000.

CRISIL Liquid Fund Index is the benchmark index. Dhawal Dalal is the fund manager.

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