Sunday, August 19, 2012
The rate cuts have started across the board..!!
Does it Signal anything about the Outcome of the RBI's next Policy Meet?
State Bank of Hyderabad has cut interest rates by up to 75 basis points on various retail loan products. This is with effect from August 21 for all new loans under floating rate. Its focus this fiscal will continue to be on retail business, an SBH release said. For housing loans, the interest rates have been reduced by 25 basis points for loans up to Rs 30 lakh and 50 basis points for loans above Rs 30 lakh — the new rates are 11 per cent and 11.50 per cent, respectively. On car loans, the new rate is 11.25 per cent. On gold loans, the new rates are 13 per cent for loans up to Rs 1 lakh and 13.25 per cent for loans above Rs 1 lakh.
Courtesy: The Hindu Businessline