Sunday, January 31, 2010

Your home, car loan rates won't rise till March

Commercial banks are unlikely to raise their prime lending rates — offered to the best customers — or deposits rates at least till the end of March but large companies borrowing short-term money at sub-PLR rates may have to cough up more.

This was indicated by CEOs of several commercial banks soon after RBI announced a 75-basis point hike in the cash reserve ratio, or the proportion of deposits that banks have to park with RBI.

However, car loan rates are unlikely to rise due to increased competition among banks in this segment.

To read more, please, visit The Economic Times

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