Auto Loan

Following the RBI MPC's repo rate hike earlier this month, many banks like Bank of Baroda, Bank of India, and Punjab National Bank have also hiked their key lending rates

The Bengaluru-based microfinancier-turned-small finance bank is also expecting to hit over 30 per cent this fiscal and take its loan book to around Rs 25,500 crore

Auto, home and personal loans have become costlier with banks and other financial institutions increasing interest rates following the repo rate hike by RBI on Wednesday. A number of banks including ICICI Bank, Bank of Baroda, Punjab National Bank (PNB), Bank of India, Indian Bank, Indian Overseas Bank and the country's leading mortgage lender HDFC Ltd have raised lending rates for their customers. Repo is the rate at which RBI lends to banks for their short-term borrowing needs. In its June 8 second bi-monthly monetary policy meeting review for FY23, RBI raised the benchmark repo rate by 50 basis points to 4.90 per cent with immediate effect. It followed an off-cycle rate hike of 40 basis points in May to rein in the soaring inflation in the country, mainly triggered by supply side woes due to Russia-Ukraine war. Private sector lender ICICI Bank raised the repo linked External Benchmark Lending Rate (EBLR) with effect from June 8, 2022 to 8.60 per cent from 8.10 per cent ...

High valuations could be justified if digital fintech transformation imparts higher growth

While economic conditions have improved, this year's virus outbreak has eroded borrowers' financial reserves, according to Moody's

Collection rates for auto-loan asset-backed securities (ABS) rated by Moody's Investors Service remained stable in the quarter ended March 2021

In a public notice, the bank said, the refund will be credited to the customer's repayment account as registered with the bank

The RBI acted on the matter after it received a whistleblower complaint regarding the irregularities in the auto loan portfolio of the bank

Nearly two-thirds of the auto industry's loan requirements are taken care of by the private and foreign lenders in the country, a report said

Analysts at Credit Suisse expect retail loan delinquencies at 5-10 per cent for private banks and 9 - 12 per cent for NBFCs

In home loans, inquiry volumes were at 112 per cent of July-August 2019 levels

While corporate loans shall be restructured, retail and SME loans are at lenders' discretion

Some decisions aren't about numbers alone. If paying extra interest isn't as important as your safety, there's no harm in going for them. Get a fix on the pitfalls, though

The amount given in a used car loan is lower, usually 70-85 per cent of the cost of the car

Move to cover fresh retail, MSME loans from Oct 1; home, auto loans to get cheaper

However, check with manufacturers' captive lenders for offers during the festive season

The products -- Suvidha Plus Home Loan and Suvidha Plus Auto Loan -- will be benchmarked to the Reserve Bank of India's (RBI) repo rate and will be available to customers with effect from September 10

PSBs get Rs 70,000 crore; home, auto loans to become cheaper

Currently, the portal gives in-principle approval for loans of up to Rs 1 crore to micro, small and medium enterprises in just 59 minutes or less than an hour

Says vehicle borrowers will benefit from growth in India's GDP and the improving business operating environment