The good part is whenever RBI increases the repo rate, the interest rate on fixed deposits also goes up, thereby making it an attractive savings option.
The MCLR is the minimum lending rate below which a bank is not permitted to lend. With the increase in MCLR, most consumer loan rates, like personal loans, auto loans, home loans, go up.
The good news is interest rates have been on an upward trajectory with the increase in repo rates -- the rate at which banks borrow from the central bank -- by the Reserve Bank of India (RBI).
In a statement, BFSL said that the focused credit card will support its commitment to address the credit needs of defence personnel who are selflessly guarding us and serving our country.
Experts say that locker is not a subject that customers engage with daily unlike a mobile app or a savings account or a debit or a credit card, and consumers do not respond to every communication immediately
Talking to BT, Priyank Kanoongo, head of National Commission for Protection of Child Rights (NCPCR), said, it is illegal for financial institutions to get into corporate tie-ups with edtech platforms like BYJU’s to enable education loans.
A surety bond is a risk transfer tool for the Principal and shields the Principal from the losses that may arise in case the contractor fails to perform their contractual obligation.
Yes Bank's gross bad loan ratio edged down to 12.89% at the end of the September quarter from 13.45% at the end of June. The number had risen to 18.87% as of December 2019.
SBI Credit Card new rules from January 2023: From next month, 10X Reward Points on online spends for SimplyCLICK Cardholders at Amazon.in will be slashed to 5X Reward Points.
The bank said that the hike will allow savings account customers to gain 7 percent interest who have a closing balance above Rs. 5 crore upto Rs. 30 crore. There is also an increase in interest rates on Fixed Deposits and Recurring Deposits with the peak rate being at 8 per cent and 7.75 per cent, respectively.
Savings accounts: Opening a savings account is the first basic step of wealth management and is mostly followed by all. Just like fixed deposit schemes, savings accounts are considered secure investment platforms.
