NEWS & ADVICE : PERSONAL LOAN
Royal Bank of Scotland trims base rate to 9%
By Vaibhav Aggarwal
Jan 31, 2013
Print    Email    RSS   

The foreign bank, Royal Bank of Scotland, has reduced its base rate by 75 basis points and brought it down to 9 percent, from the existing 9.75 percent. Base rate is the rate below which banks are not allowed to advance loans to customers. Base rate plus spread determines the actual interest rate on a loan.

While making the announcement, the Managing Director and Country Head (International Banking) of RBS, Mr. Brijesh Mehra said, "The RBI move to cut repo and CRR by 25 bps is in sync with our expectations. In line with the potential deflationary environment, RBS has decided to cut its base lending rate."

With this step, RBS has become the first foreign bank in the country which has slashed its benchmark rate post the key policy rate cuts by Reserve Bank of India in its monetary policy review. It should be noted that RBI slashed its repo rate and CRR by 25 bps in its monetary policy review announced on January 29.


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

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Some admissible deductions under Income...
Carnival of Indian Personal Finance Blogs #6
An analysis of alternatives to personal loans
Now, Do Banking on Social Media Sites
Loan against Securities: A viable...


Surat ℰsℭℴℛt Sℰℛviℭℰ 09958217013,...
What is the outstanding Amount for my personal loan
ho many month balance in My Personal loan
i need my personal loan track statement

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive