Budget 2020

Home, consumer loans from NBFCs to become cheaper

New borrowers of NBFCs and MFIs will have to pay lower interest from the first quarter of the new financial year 2021-22. Apart from new borrowers this interest rate reduction will also benefit individuals who have taken floating rate loans such as home loan from these lenders. RBI has released the latest average base rate […]

Budget 2020

South Indian Bank cuts MCLR by 0.05 pc across tenors

NEW DELHI: South Indian Bank (SIB) on Friday announced cutting its marginal cost of funds based lending rate (MCLR) by 0.05 per cent across all tenors. It has also cut its base rate by 0.10 per cent. “This is to inform that the bank has decided to reduce the base rate from 9.85 per cent […]