RBI gives good news to loan borrowers: Big gift ahead of Festival Season
Loan interest rates are also likely to remain unchanged. RBI Governor Shaktikanta Das also said that we have identified inflation as a key risk to sustainable growth.
The Reserve Bank of India (RBI) has decided to leave its key repo rate unchanged for the fourth consecutive time. At present the repo rate is 6.5% and it has been decided not to change it.
Reserve Bank of India governor Shaktikanta Das said the decision was taken unanimously at the central bank’s Monetary Policy Committee (MPC) meeting. Repo rate is the interest rate at which RBI lends money to other banks. RBI Governor Shaktikanta Das said, “India is poised to become the world’s new growth engine”.
This means that loan interest rates are also likely to remain unchanged. RBI Governor Shaktikanta Das also said that we have identified inflation as a key risk to sustainable growth. Shaktikanta Das also expressed concern that the overall inflation outlook is uncertain due to the decline in kharif sowing of some key crops such as pulses and oilseeds, as well as low reservoir levels and volatility in global food and fuel prices.
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Further, the Reserve Bank of India expects retail inflation to be 5.4% in the current fiscal year and may decline to 5.2% in the first quarter of the next fiscal year. The RBI governor also said that inflation will be brought down by reducing the price of vegetables and reducing the price of cooking gas cylinders.
State Bank Of India Bumper Offer On Car Loan And Home Loan:
State Bank of India: Debt is common among us, Whether buying a car, building or buying home. Whether it is buying a two-wheeler, taking a loan for anything has become a habit. Also, personal loans are widely taken in emergency situations. It is being paid in easy installments.
The interest rate on these is different for each loan. But now as the festive season is approaching, all sectors are also announcing many offers and discounts. Banks are also offering attractive deals on their loans and other financial products. Country’s largest lender State Bank Of India has launched some amazing offers for its customers this festive season.
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Banks are giving discounts on Home Loans, Car Loans. Don’t miss these offers if you are waiting for home and car loans. Now let’s know about discounts and offers on SBI Home and Car Loans.
No processing fee on Car Loan:
State Bank of India charges zero processing fee on Car Loans. The details of these offers are disclosed on the official website of the bank. Processing charges on car loans can be waived off under the offer. This offer is available till January 31, 2024. Along with zero processing fees, auto loans offer low interest rates, quick approval and up to 100 percent finance. Also, the bank extends specific offers on various brands. SBI interest rates on car loans range from 8.8 percent to 9.7 percent.
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State Bank of India Home Loan:
Also SBI has announced discounts on home loans. It offers a maximum discount of 65 basis points (bps). It will be applicable till December 31, 2023. But these offers are linked to the borrower’s CIBIL Score.
Offers are lucrative for those with high scores. Those exploring home loan options with a CIBIL score of 700 and above can avail an additional 20 basis points (bps) discount. Borrowers with a CIBIL score of 750 or above will get a discount of 5 bps points if they opt for maximum benefit, realty loans.
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