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MDT/PTI 06 September 2012
Easy Gold' from Federal Bank offers a debit card with an overdraft facility using which customers can withdraw money or use loan amount through any ATM or PoS terminals   Mumbai: Federal Bank, which has seen high growth in its gold loan book in recent months, has introduced a new...

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MDT/PTI 04 September 2012
In the housing loan segment, interest rate has been reduced by 0.25% while interest rate on car loans has been slashed by 0.5% effective today   New Delhi: State-owned lender Punjab National Bank (PNB) slashed interest rates on home and car loans by up to 0.5%, reports...

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Union Bank cut interest rates by 1.5% to 2.5% to 10.95% for vehicle loans of up to seven year tenure Mumbai: Union Bank of India said it has slashed interest rates on vehicle loans in the range of 1.55-2.55% and brought them to a flat 10.95% on zero to seven-year tenor with immediate...

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HUDCO is offering home loans at a floating rate of 10.2% for loans up to Rs25 lakh, which is marginally lower than SBI's 10.25% interest for home loans of up to Rs30 lakh   Mumbai: State-run Housing and Urban Development Corp (HUDCO) on Tuesday said it has restarted lending for home...

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Moneylife Digital Team 27 August 2012
Bajaj Finserv has introduced online personal loans to its kitty of offers to high networth individuals. While net-savvy customers would like it, they need to be vigilant Bajaj Finserv, a diversified non-banking finance company (NBFC), has launched online personal loans for high net-worth...

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RBI said contrary to claims, the real interest rates of commercial had been heading south in FY12 from their high during the pre-crisis period of 2003-04 and 2007-08 Mumbai: The Reserve Bank of India (RBI) has proved wrong its critics, who have been flaying it for sharp growth dip and...

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The high level committee on external commercial borrowings which met last evening also permitted FIIs to invest up to $5 billion in rupee bonds within the overall corporate bond limit of $45 billion    New Delhi: Liberalising overseas borrowing norms, the government on Wednesday...

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Bank officers rejecting education loan applications without sufficient reasons would be penalised   New Delhi: Making sure that education loans are not denied to eligible students, Finance Minister P Chidambaram has said bank officers rejecting applications without sufficient reasons...

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While modifying the KCC guidelines, RBI has removed the clause pertaining to mandatory repayment of loans by card holders within a year and gave freedom to banks to fix the repayment period   Mumbai: The Reserve Bank of India (RBI) has relaxed the repayment norms for Kisan Credit...

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SBI cut interest rate on home loans of up to Rs30 lakh to 10.25% while the new car loan would be available at an interest rate of 10.75% for seven year loan   New Delhi: State Bank of India (SBI) has slashed lending rates on car and home loans by up to 0.5%, a day after 1% cut in SLR...

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The SLR cut is expected to release about Rs68,000 crore in to the system   Mumbai: The Reserve Bank of India (RBI) has done a balancing act amid weak economic conditions by increasing liquidity that can help bankers cut lending rates, and at the same time let it continue with its...

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Moneylife Digital Team 19 July 2012
Axis Bank will accept 10% amount as margin for home loan from customers of Godrej Properties. The customers can pay rest 10% margin money during thier re-payment schedule Godrej Properties Ltd, the real estate development arm of the Godrej Group said it signed a memorandum of...

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Maharashtra Chamber of Housing Industry has called for more interest rate concessions for lower middle and economically weaker sections for buying home Mumbai: While welcoming extension of interest subsidy scheme for this year, real estate industry body Maharashtra Chamber of Housing...

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The limit of subsidy for an individual borrower would be Rs14,912 for a loan of Rs15 lakh, and Rs9,925 for a loan of Rs10 lakh and the extended scheme will benefit all housing loans availed in the current financial year   New Delhi: The government on Wednesday extended the 1% interest...

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The loan scheme aims to provide hassle free loans to the farmers without mortgage of land   Patiala: State Bank of Patiala (SBOP) said it has launched gold loan (Swarn Shakti) for farmers against the security of gold ornaments, reports PTI. The motive of the campaign is to enable...

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The move will encourage the use of debit cards, especially at small merchants or service providers and location by way of lower merchant discount rate Mumbai: The Reserve Bank of India (RBI) on Thursday lowered the rate of commission that customers pay to merchants at the point of sale...

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HUDCO currently doing institutional finance, had not given loans to retail customer in the last two years as the NPA in the segment had gone up   New Delhi: State-owned Housing and Urban Development Corp Ltd (HUDCO) plans to re-enter the retail housing loan segment after a gap of two...

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My wife has an auto loan with HDFC Bank. We decided to part pay the loan. I called my personal banker to ask him the minimum amount I need to pay. He told me the loan department has not yet opened for work as yet and that he would let me know in one hour! This is core banking for you. He...

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Removal of the charges or penalty will lead to reduction in the discrimination between existing and new borrowers and competition among banks will result in finer pricing of the floating rate home loans   Mumbai: In a relief to number of borrowers, the Reserve Bank of India (RBI) has...

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Moneylife Digital Team 23 February 2012
Banks are concerned as non-performing assets in education loans are as high as 6%. Meanwhile, SBI, largest public sector lender, announced an interest rates cut on education loans up to 1%  The committee constituted by the Reserve Bank of India (RBI) to re-examine the existing...

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