A week after the credit policy, quarter percent rate rise a quarter percent to seep in. HDFC existing and new customers for your home loan rates have been raised is the beginning. HDFC to raise rates was not alone. Indian Overseas Bank Bank of India and such other public sector undertakings (PSUs), banks have raised their base rate and prime lending rates today. CNBC TV 18 - Gopika Gopakumar's more reports about the effect on EMI.
Debt has become more expensive as banks and housing finance companies have decided to follow the signs RBIs. The biggest housing finance major, HDFC, both old and new customers have increased lending rates by 25 basis points.
This is a customer who for a period of 20 years to get 30 lakh loan means, for an interest rate of 9.75% over Rs 28,000 per month and paid one EMI. 75 lakh loan, which is priced at 10%, the monthly installment is worth more than Rs 72,000. That addition, customers Rs 540 per month as part of your EMI will have to chip.
It just is not alone HDFC. Other public sector banks increased their base as well as the benchmark prime lending rate (BPLR) rate is decided. That means, both old and new customers will have to pay high EMI. Public sector banks, all loans that corporate loans, auto loans, personal loans and is attached to the base rate will be more expensive loans are included.
Two banks, PNB and Bank of Baroda, has increased their deposit rates. It is the result of raising more deposits. Recently, deposit growth has been sluggish and that's why most banks are raising deposit rates, to support a higher credit growth.
Debt has become more expensive as banks and housing finance companies have decided to follow the signs RBIs. The biggest housing finance major, HDFC, both old and new customers have increased lending rates by 25 basis points.
This is a customer who for a period of 20 years to get 30 lakh loan means, for an interest rate of 9.75% over Rs 28,000 per month and paid one EMI. 75 lakh loan, which is priced at 10%, the monthly installment is worth more than Rs 72,000. That addition, customers Rs 540 per month as part of your EMI will have to chip.
It just is not alone HDFC. Other public sector banks increased their base as well as the benchmark prime lending rate (BPLR) rate is decided. That means, both old and new customers will have to pay high EMI. Public sector banks, all loans that corporate loans, auto loans, personal loans and is attached to the base rate will be more expensive loans are included.
Two banks, PNB and Bank of Baroda, has increased their deposit rates. It is the result of raising more deposits. Recently, deposit growth has been sluggish and that's why most banks are raising deposit rates, to support a higher credit growth.
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