Business Daily from THE HINDU group of publications
Tuesday, Dec 23, 2008
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Business Daily from THE HINDU group of publications Tuesday, Dec 23, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Public Sector Banks Money & Banking - Fixed Deposits BoI, BoB to cut lending, deposit rates Our Bureau Mumbai, Dec. 22 Bank of India and Bank of Baroda announced cuts in lending rates by 75 basis points and deposit rates across all maturities with effect from January 1. For both banks, the BPLR will come down to 12.5 per cent from 13.25 per cent. This will lead to a reduction in rates of all floating interest rate loans linked to the BPLR such as, home loans, education loans, auto loans, personal loans and SME loans. While Bank of India’s home loans are not linked to the BPLR, the bank would be visiting the special reference rate for home loans soon. There could be some reduction in the home loan rates, though it may not be corresponding to the cut in BPLR said, Mr T S Narayanasami, Chairman and Managing Director, Bank of India. More Stories on : Public Sector Banks | Fixed Deposits | Interest Rates
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