vIndianz.com (5 Mar, 2010) — Mumbai: ICICI Bank and HDFC Bank – two leading private lenders in the country – on Thursday raised lending rates for auto loans, in a clear signal that rates would harden in the coming days.
Mortgage major HDFC and ICICI Bank also discontinued with their special home loan schemes, which offer lower interest (teaser) rate for the first few years of the credit period. An HDFC spokesperson when contacted confirmed to PTI that the lender is not continuing with the special offer which was valid only up to February 27.
Country’s largest private sector lender ICICI Bank also said it has hiked auto loan rates by up to 50 basis points. It withdrew the 8.25 per cent special home-loan scheme.
Further Reading- Mortgage Rates for US Loans Climb for Third Week – Bloomberg
- Bank Of America Loan Modification Program Offers Greater Degree Of Flexibility – Mortgage11
- World Bank bars Siemens’ division for 4 years
- Bigger Is Better as Lending Amps Up – Bizjournals.com (blog)
- Mortgage rates surge to a five-month high – Washington Post
- 30 Year Jumbo Mortgage Rates at 5.25%: Mortgage Rates Today 12/12 – MonitorBankRates.com
- Credit card rates move higher, but it’s unclear exactly why – USA Today
- Credit card offers, incentives pick up – Chicago Tribune
- Big February sales results on tap for autos – MarketWatch
- Europe February Inflation Quickens, Adding Pressure on ECB – BusinessWeek
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[...] State Bank of India has said it was not looking at hiking lending rates at least till May-June. Private sector lenders like ICICI Bank, HDFC Bank and Kotak Mahindra Bank, on Thursday, announced rise in their lending rates to pass on the burden of rising cost of funds [...]