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Floating rate

Home loan borrowers get relief

Home loan borrowers get relief
The RBI has suggested that banks must effect any change in floating rate loans only at the agreed-upon reset date. This is aimed at ushering in transparent and appropriate pricing of credit, according to an RBI working group. This is good news for existing home loan borrowers. What this means is that any change in [...] Continue Reading »

RBI Firm on Scrapping Pre-payment Penalty

RBI Firm on Scrapping Pre-payment Penalty
A person familiar with the plan told that there is a possibility that banks will be ordered to scrap penalty on pre-payment of all retail and small corporate loans and do away with fines for failure to maintain minimum balance if the recent ‘nudge’ does not work by the Reserve Bank. Since the entire system [...] Continue Reading »

Pay more under SBI teaser loan scheme!

Pay more under SBI teaser loan scheme!
Teaser loans are offered to ease a a borrower’s tension but nobody knows what is in store for future! A time being relief can be obtained by availing loans under teaser loan scheme. State Bank of India (SBI) had provided home loans based on teaser rate scheme three years ago. A home buyer had to [...] Continue Reading »

ICICI launched a Fixed-Rate Retail Home Loan Product

ICICI launched a Fixed-Rate Retail Home Loan Product
ICICI Bank will offer customers the option to choose a fixed rate of interest for one or two years, after which it will charge applicable floating rate depending on its base rate. The bank’s base rate is at 10% now. Customers opting for the product, which would be available from Friday, would have to pay [...] Continue Reading »



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