Monthly Archives: October 2013

Two wheeler loan will get cheaper as Public sector banks slashing their retail loan rates

Public sector banks have slashed their retail loan rates following the government directives. This announcement was first made by the major banks like Corporation Bank, Dena Bank, Oriental Bank of Commerce, Punjab National Bank and State Bank of India. The reduction of the retail loan rate will offer a noticeable reduction in the interest rates of two wheeler loan, consumer durable loan and car loan. This reduction is the result of the special capital offered by the government to the Public Sector Banks as a part of their initiative to reduce the two wheeler loan rates and also the consumer

The popular 80:20 home loan scheme offered by the developers received a red signal from RBI

The property developers will have a tough time now as their popular marketing gimmicks to offer 80:20 loan has now been banned by Reserve Bank of India. As a part of this popular home loan scheme, only 20% of the loan amount was disbursed at the time of booking the house while the rest 80% was disbursed at the time of possession. The developers were paying the interim monthly instalments while the buyers would start with their part only after the possession. The possession period in such case was usually considered as 2 years and the developer may assure the

The festival of lights have not yet shown impact on auto sales despite lowering of the car loan rates

The car loan rates have witnessed a visible reduction by the public sector banks but the same has not shown any apparent impact on the auto sales yet. The festivities have also not yet shown any hike in auto sales figures. The report produced by the reliable sources have also revealed very clearly that lower interest rates have nothing to do with the auto sales figures and that will reflect very well in the car sales figures in the last quarter of 2013. This entire dipping phenomenon is due to the overall ownership cost of the cars and hence even