Reserve Bank of India – Tenders
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Investment
oi-Vipul Das
A majority of Indian banks have started cutting their floating rate home loan interest rates due to the decision made by the Reserve Bank of India (RBI) to keep the repo rate unchanged to 4.00% in its third bi-monthly monetary policy for the financial year 2021-22. The deposit rates and lending rates of banks are generally influenced by repo rates and as a result of the latest decision of RBI, banks are now free to offer loans to their customers at lower interest rates. When it comes to bank interest rates, the cheapest rates on home loans now start at 6.60 percent with Kotak Mahindra Bank and 6.70 percent with State Bank of India (SBI). On the other side, there are some housing finance companies (HFCs) that have also reduced their home loan rates which are linked with the Prime Lending Rate (PLR).
As a result of this, on home loans of HFCs, you may not get an interest rate cut which results in lowering your borrowing amount when the repo rate falls, which you need to keep in mind. As of now, there are some HFCs that are offering interest rates on home loans starting from 6.66%, quite comparable to that of banks. But apart from the low eligibility criteria, quicker loan approval, 24/7 customer support, you need to keep the processing fees, penalty rates, and applicable terms and conditions on home loans of HFCs in mind. For the readers planning to purchase their dream home, here we have compiled the top 5 HFCs that are promising lower interest rates on home loans in 2021.
Here are the most recent interest rates on home loans of LIC HFL based on CIBIL score and loan slab.
Loan slab | CIBIL score | Salaried & Professional | Non-Salaried & Non-Professional |
---|---|---|---|
Upto Rs. 50 Lakhs | CIBIL >= 700 | 6.66% | 7.00% |
CIBIL 650 – 699 | 7.10% | 7.20% | |
CIBIL 600 – 649 | 7.30% | 7.40% | |
CIBIL less than 600 | 7.50% | 7.60% | |
More than 50 Lakhs & Up to Rs. 1 Cr | CIBIL >= 700 | 6.90% | 7.00% |
CIBIL 650 – 699 | 7.30% | 7.40% | |
CIBIL 600 – 649 | 7.60% | 7.70% | |
CIBIL less than 600 | 7.70% | 7.80% | |
More than 1 Cr & Up to Rs. 3 Crs | CIBIL >= 700 | 6.90% | 7.00% |
CIBIL 650 – 699 | 7.40% | 7.50% | |
CIBIL 600 – 649 | 7.70% | 7.80% | |
CIBIL less than 600 | 7.70% | 7.80% | |
More than Rs. 3 Crs & upto Rs 15 Cr | CIBIL >= 700 | 6.90% | 7.00% |
CIBIL 650 – 699 | 7.50% | 7.60% | |
CIBIL 600 – 649 | 7.70% | 7.80% | |
CIBIL less than 600 | 7.80% | 7.90% | |
Loan slab | Salaried & Professional | Non-Salaried & Non-Professional | |
Up to Rs. 50 Lakhs (Cibil | 7.40% | 7.50% | |
Source: LIC HFL, Rate of Interests (Floating – Linked to LHPLR) Current LHPLR – 14.70% |
HDFC Ltd. offers the following interest rates on home loans based on the retail prime lending rate of 16.05%.
Special Home Loan Rates | |
---|---|
Loan slab | Home Loan Interest Rates (% p.a.) |
For Women (upto 30 Lakhs) | 6.75 to 7.25 |
For Others (upto 30 Lakhs) | 6.80 to 7.30 |
For Women (30.01 Lakhs to 75 Lakhs) | 7.00 to 7.50 |
For Others (30.01 Lakhs to 75 Lakhs) | 7.05 to 7.55 |
For Women (75.01 Lakhs & Above) | 7.10 to 7.60 |
For Others (75.01 Lakhs & Above) | 7.15 to 7.65 |
Standard Home Loan Rates | |
Loan slab | Home Loan Interest Rates (% p.a.) |
For Women (upto 30 Lakhs) | 6.95 to 7.45 |
For Others (upto 30 Lakhs) | 7.00 to 7.50 |
For Women (30.01 Lakhs to 75 Lakhs) | 7.20 to 7.70 |
For Others (30.01 Lakhs to 75 Lakhs) | 7.25 to 7.75 |
For Women (75.01 Lakhs & Above) | 7.30 to 7.80 |
For Others (75.01 Lakhs & Above) | 7.35 to 7.85 |
Source: HDFC Ltd. |
Bajaj Finserv offers home loans for up to a tenure of 30 years. Here are the current home loan rates based on different home loan products of the company.
Employment Type | Product | Home Loan Rate |
---|---|---|
Salaried | Home Loan | 6.75% |
Home Loan Balance Transfer | 6.75% | |
Home Loan Top Up | 6.75% | |
Self Employed | Home Loan | 8.25% |
Home Loan Balance Transfer | 8.25% | |
Home Loan Top Up | 8.25% | |
Source: Bajaj Finserv Ltd. |
Tata Capital currently offers the following rates on home loans starting at just 6.90% respectively.
Salaried & Self Employed Interest Rate Table | ||
---|---|---|
Customer Profile | Loan Slab | ROI (%) |
Salaried | Any Amount | 6.90% onwards |
Self Employed | Any Amount | 6.90% onwards |
Home Equity | ||
Customer Profile | Loan Slab | ROI (%) |
Salaried/Self Employed | Any Amount | 10.10% onwards |
Source: tatacapital.com |
Below-listed are the floating interest rates on home loans of PNB Housing Finance Ltd. which are in force from 25th February 2021.
For loan amount up to INR 35 lakhs | ||
---|---|---|
Credit Score | Salaried / Self – employed professional | Self – employed non – professional |
>= 800 | 7.35% – 7.85% | 7.55% – 8.05% |
> 750 to | 7.55% – 8.05% | 7.65% – 8.15% |
> 700 to | 7.95% – 8.45% | 8.35% – 8.85% |
> 650 to | 8.35% – 8.85% | 8.60% – 9.10% |
upto 650 | 8.55% – 9.05% | 8.85% – 9.35% |
less than zero | 8.55% – 9.05% | 8.85% – 9.35% |
For loan amount greater than INR 35 lakhs | ||
Credit Score | Salaried / Self – employed professional | Self – employed non – professional |
>= 800 | 7.70% – 8.20% | 7.90% – 8.40% |
> 750 to | 7.85% – 8.35% | 7.95% – 8.45% |
> 700 to | 8.05% – 8.55% | 8.55% – 9.05% |
> 650 to | 8.55% – 9.05% | 8.80% – 9.30% |
upto 650 | 8.75% – 9.25% | 9.05% – 9.55% |
less than zero | 8.75% – 9.25% | 9.05% – 9.55% |
Source: PNB Housing Finance Limited |
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Investment
oi-Kuntala Sarkar
Spot gold rates in India have increased marginally today after yesterday’s fall. On 20th August, today 22 carat gold of 10 grams was trading at Rs. 46,400 and 24 carat for 10 grams gold was Rs. 47400. Yesterday the rates fell by around Rs. 370 per 10 grams, largely due to a hike in the valuation of the US dollar in the international market. The US dollar was at 9 months peak yesterday.
22 carat gold of 10 grams was quoted at Rs. 46400 in Delhi, Rs. 46400 in Mumbai, Rs. 46590, and Rs. 44250 in Bangalore. All rates are higher than yesterday’s traded prices.
On Multi Commodity Exchange (MCX) in Mumbai, gold prices are showing the same trend and edged higher today. The October gold FUTCOM has jumped 0.12% with an absolute price change of Rs. 55 till 4.34 pm. It is trading at Rs. 47224 for 10 grams. Silver is going down by 0.13% though on MCX.
Sandeep Matta, founder, TRADEIT Investment advisor said, “Market participants will be eyeing on an upcoming economic symposium which could become the new catalyst for gold to surge. Gold on MCX is also finding its major support on Rs. 47,000 and trading with a short-term bullish technical advantage. The outlook is positive for precious metal particularly due to heavy sell-off in the global equity market and increasing cases of delta variant globally. Traders are advised to follow key levels both the sides and investors can accumulate gold on every dip.”
Story first published: Friday, August 20, 2021, 17:32 [IST]
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After the latest revision, the public sector lender is now offering the following interest rates on fixed deposits to the general public.
Maturity Buckets | Interest Rates In % |
---|---|
7 days to 14 days | 2.85 |
15 days to 30 days | 2.85 |
31 days to 45 days | 2.85 |
46 days to 90 days | 3.85 |
91 days to 179 days | 3.85 |
180 days to 269 days | 4.35 |
270 days to less than 1 year | 4.35 |
1 Year & above but less than 2 Years | 5.00 |
2 years & above to less than 3 years | 5.05 |
3 years & above to less than 5 years | 5.05 |
5 years & above to less than 8 years | 5.05 |
8 years & above to 10 years | 5.05 |
Source: Bank Website |
On deposits of up to Rs.2 crore for a period of 6 months and up to 10 years, Bank of India provides a 0.50 percent p.a. additional rate of interest over and above card rates to the general public. Senior citizens will now get the following interest rates on their deposits, post the recent revision of the bank.
Maturity Buckets | Interest Rates In % |
---|---|
7 days to 14 days | 2.85 |
15 days to 30 days | 2.85 |
31 days to 45 days | 2.85 |
46 days to 90 days | 3.85 |
91 days to 179 days | 3.85 |
180 days to 269 days | 4.85 |
270 days to less than 1 year | 4.85 |
1 Year & above but less than 2 Years | 5.50 |
2 years & above to less than 3 years | 5.55 |
3 years & above to less than 5 years | 5.55 |
5 years & above to less than 8 years | 5.55 |
8 years & above to 10 years | 5.55 |
Source: Bank Website |
In case of premature withdrawal, Bank of India will impose the following penalty rates on deposits made by depositors. The bank will not levy a penalty for premature withdrawals of Term Deposits owing to the death of the depositor/s, as well as premature withdrawals of Term Deposits made by employees, ex-employees, staff/ex-staff senior citizens, and the spouse of a dead employee as a primary depositor.
Category of the deposits | Penalty on premature withdrawal of the deposit |
---|---|
Deposits less than Rs. 5 Lacs withdrawn on or after completion of 12 months | NIL |
Deposits less than Rs. 5 Lacs withdrawn prematurely before completion of 12 months | 0.50% |
Deposits of Rs. 5 Lacs & above withdrawn prematurely | 1.00% |
Source: Bank Website |
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E-tender no. RBI/Guwahati/Guwahati/3/21-22/ET/44 Bidders are instructed to take note of the following corrigendum to Part I (Techno – Commercial Bid): I. Change in EMD clause: Earnest Money Deposit (EMD) of Rs.27,450/- (Twenty Seven Thousand Four Hundred and Fifty Only) is to be submitted by all bidders in the form of Demand Draft/ Bank Guarantee as per Annexure I for EMD in favor of Reserve Bank of India, Guwahati to be delivered in physical form at Estate Department, 4th floor, Reserve Bank of India, Guwahati. ‘Or’ Deposited through NEFT in favour of Reserve Bank of India, Guwahati in A/c No. 8692299 & IFSC Code: RBIS0GWPA01. Please mention your company name in NEFT transaction” Note: Acknowledgement for payment of EMD should be uploaded in the MSTC portal to qualify for participation in Part I of tender. II. Date of closing of online e-tender for submission of Techno-Commercial Bid & Price Bid (Close Bid Date & Time) is extended up to 02:00 P M on August 30, 2021. |
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In the underwriting auctions conducted on August 20, 2021 for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:
Ajit Prasad Press Release: 2021-2022/717 |
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The Reserve Bank of India issued All Inclusive Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Deccan Urban Co-operative Bank Limited, Vijayapura, Karnataka, vide Directive DoS.CO.UCB-South/Dir.1/1849/10.01.023/2020-21 dated February 18, 2021, the validity of which is up to August 19, 2021. 2. The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive DoS.CO.UCB-South/Dir.1/1849/10.01.023/2020-21 dated February 18, 2021, issued to Deccan Urban Co-operative Bank Limited, Vijayapura, Karnataka. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive DoS.CO.UCB-South/Dir.1/1849/10.01.023/2020-21 dated February 18, 2021, the validity of which is up to August 19, 2021, shall continue to apply to the bank for a further period of six months from August 20, 2021 to February 19, 2022, subject to review. 3. Other terms and conditions of the Directive under reference shall remain unchanged. (Yogesh Dayal) Press Release: 2021-2022/716 |
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