NEWS & ADVICE : HOME LOANS
SBI’s base rate finally around 7.75%
By Joseph Samson
Jun 28, 2010
Print    Email    RSS   

The largest lender of the country, State Bank of India is most likely to have arrived at its base rate. The banking major is most likely to set its base rate at around 7.75% after having made the clarifications needed on loan pricing on farm loans and export credit from RBI.

The bank’s base rate announcement is being eyed by majority of the banks. The banking major is likely to make an announcement of its base rate tomorrow, sources said.

According to sources, "SBI had sought some clarifications from the RBI on concessional loans when the base rate kicks in. The RBI has now agreed to relax norms for three category of loans.”

Clearing SBI’s doubts, RBI had sent a notification earlier this week to Indian Banks’ Association (IBA) that the base rate system would not affect the interest subvention schemes of the Government.

The rules will be relaxed for restructured loans, whose interest rates come below the base rate, the RBI said.


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

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
The right age for home loans!
Home Equity Loan: A shoulder you can bank...
If the interest rate is same, how do you...
Tips to buy an ‘under construction’ home
Loan against Property: A shoulder to rest...


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