The Reserve Bank of India (RBI) on Friday hiked the cash reserve ratio (CRR) for commercial banks by an unexpected 75 basis points, in a clear bid to curb inflationary expectations in the economy. Cash reserve ratio is the minimum liquid assets banks have to retain against deposits or park with the central bank in the form of government securities. All other policy rates were left unchanged.
Wealth gives you tips on how to get the best deal on choosing a car loan.
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The reduction will be applicable for deposits below Rs 1 crore.
http://www.ibnlive.com/news/sbi-trims-deposit-rates-across-select-maturities/97837-7.html
Budget may make loans cheaper but would they be cheap enough.
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The result would mean a cheaper home, car and personal loans.
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Interest rate is fixed for an initial year which later converts to a floating one.
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Students prefer to use the services of nationalised banks for study loans.
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You could safely say that your idle money is going to make you far richer!
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The rate cut will pump in over Rs 420 crore into the system.
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The new rates will be applicable for new and existing customers.
http://www.ibnlive.com/news/icici-cuts-interest-rates-others-may-follow-suit/90792-7.html
If you aren't earning well even then you can manage to repay your debt.
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You could now book at 9.75 per cent interest rate by paying 0.5 per cent.
http://www.ibnlive.com/news/icici-drops-home-loan-rates-for-existing-customers/89593-7.html
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