Punjab National Bank (PNB) updated interest rates on its retail loan portfolio effective February 10, 2025, in response to evolving market dynamics for enhanced competitiveness. This development was outlined in a press release issued by the bank on February 20, 2025. The revised rates encompass a range of loan products including home loans, auto loans, … Read more
Banks’ loan growth moderated for a fifth straight month in November, central bank data showed, as lenders continued to rein in unsecured and personal loans after the Reserve Bank of India’s crackdown on “exuberant” lending. Banks’ credit increased by 11.8% year-on-year last month, slower than the 16.5% rise in November 2023, excluding the impact of … Read more
Gone are the days when a family’s limited savings meant settling for a simpler wedding. The easy availability of wedding loans has made lavish celebrations more attainable. These personal loans offer instant financial assistance, making them appealing to many. However, these personal loans often come with high interest rates, typically ranging from 10-20%, depending on your … Read more
Mumbai: Private lender HDFC Bank on Monday raised its Marginal Cost Based Lending Rate (MCLR) by up to 15 basis points on select tenors. The new rates are effective from May 8, 2023. The hike in MCLR rates will impact floating rate borrowers of personal loans and vehicle loans whose loans are tied to the … Read more
MUMBAI: A one-time debt restructuring allowed by India’s central bank to help lenders and borrowers amid the COVID-19 pandemic will prolong uncertainty about the banking sector’s asset quality, Fitch Ratings said on Tuesday. India’s central bank said last week it will allow restructuring of corporate and personal loans to ease debt strains on companies and … Read more