NEWS & ADVICE : HOME LOANS
PSBs cut rates, fees on home, auto loans to hike loan disbursal
By Joseph Samson
Oct 22, 2012
Print    Email    RSS   

Following finance minister P. Chidambaram's plea to banks to take steps to accelerate growth in banking sector, public sector banks have responded by either reducing the interest rates or by eliminating the processing fees on car and home loans to increase demand in the market.

It is reported that the finance minster is happy with the steps taken by the banks. At a recent meeting held by the minister with the chiefs of various public sector banks, he is said to have urged banks to introduce reduced interest rates on various loans to accelerate growth in retail loans segment.

The banks which have heeded finance minister's advice include banks like Bank of India, Central Bank of India, Canara Bank, Indian bank, Allahabad Bank and Bank of Baroda. These lenders have introduced interest rate cuts in home loans or car loans or have slashed their processing fees completely on these loans.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Can we claim tax benefits on home loan and...
Bank loans that could glitter for you
Home Equity Loan: A shoulder you can bank...
12 point conduct checklist for bank and...
Bankers concerned on RBI loan recovery...


PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive