SYNDICATE BANK EYES Rs850-CR HOUSING LOAN DISBURSALS
Article Abstract:
The Syndicate Bank of Manipal plans to disburse housing loans of Rs850 crore in 1998-99 through its 1,600 country-wide branch network. This projection is an increase of 685 percent over its disbursements of Rs80 crore in 1997-98. The Reserve Bank of India relaxed its restrictions on margins, security and the tenure of housing loans in April 1998. The bank plans to give loans of up to 70 percent of a property's value. The bank has revised its interest rates for housing loans with effect from May 4, 1998. A Rs2 lakh loan will carry an interest of 14.03 percent while loans above Rs5 lakh will attract an interest rate of 16.5 percent. (khr)
Comment:
Plans to disburse housing loans of Rs850 crore in 1998-99 through its 1,600 country-wide branch network
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
HDFC SLASHES INTEREST RATES FOR HOUSING LOANS
Article Abstract:
The Housing Development Finance Corporation has reduced interest rates on housing loans by 0.5-1 percentage points across different slabs. It has reduced rates by one percentage point on loans above Rs2 lakh and by half a percentage point on loans between Rs25,000 and Rs2 lakh with effect from March 15, 1999. Loans up to Rs5 lakh will have an interest rate of 13.5 percent now against 14.5 percent earlier while loans above Rs5 lakh will now attract an interest rate of 14.5 percent instead of 15.5 percent. (khr)
Comment:
The Housing Development Finance Corporation has reduced interest rates on housing loans by 0.5-1 percentage points across different slabs.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
SYNDICATE BANK TO TIE UP WITH CONSUMER LOANS COS
Article Abstract:
Syndicate Bank plans to enter into joint ventures with Indian companies to offer consumer loans to their employees. The move is aimed at increasing its credit offtake and increasing the rate of return on its advances. It has signed a pact with Bajaj Auto and has offered Rs1 crore worth consumer loans to its employees. The bank has also signed a pact with the Indian railways to provide advance loans to its employees. It has sanctioned loans worth Rs44 lakh to employees of Indian Railways. (ag)
Comment:
Plans to enter into joint ventures with Indian companies to offer consumer loans to their employees
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: HYDERABAD BLUES. STAMP DUTY DEPT SLASHES MUMBAI PROPERTY RATES. 20% FALL BEFORE REAL ESTATE BOTTOMS OUT: REPORT
- Abstracts: SRINIVASA HATCHERIES - HATCHING GOOD NEWS. SRINIVASA HATCHERIES DECLARES 1:2 BONUS TLC SHAREHOLDERS OKAY MERGER WITH HARITA SRINIVASA
- Abstracts: DEWAN HOUSING FINANCE CORPORATION LIMITED LIC HOUSING RECORDS 13% JUMP IN NET. DEWAN HOUSING FINANCE POSTS 33% RISE IN NET
- Abstracts: NYKREDIT FRAVALGER DANSK FORSIKRING RAPPORT: DANSK DAGLIGVAREHANDEL PRAGET AF STOR KONCENTRATION
- Abstracts: ICRA DOWNGRADES MYSORE PAPER, PUTS TWO MORE ON RATING WATCH VALMIK THAPAR FOR SETTING UP OF `GREEN FUND'. GAUTAM IS BILT PAPER JT MD IN NEW THAPAR REVAMP