Good news: After SBI, now these banks also made loans cheaper, you will benefit..

Union Bank of India and PNB Housing Finance have also given relief to customers following the announcement of a cut in the Marginal Cost of...

Union Bank of India and PNB Housing Finance have also given relief to customers following the announcement of a cut in the Marginal Cost of Fund Based Interest Rate (MCLR) by the country's largest state-run State Bank of India (SBI).  Union Bank of India has reduced this so Union Bank of India has reduced the Marginal Cost of Funds (MCLR) based lending rate by five to 15 basis points for all periods. This is the 11th consecutive cut in the rate announced by the bank since July 2019. The new rates will be effective from 11 May 2020.
Period MCLR 
Overnight MCLR7.15%
1 month MCLR7.15%
3 month MCLR7.40%
6 month MCLR7.55%
1 year MCLR7.70%

PNB Housing Finance, being implemented from today, has announced a new rate home
loan company PNB Housing Finance has reduced the loan rates for existing customers by 0.15 per cent. This deduction will be for both personal housing loans and property-acquired loans. The loan rate cut has come into effect from 9 May. 

The bank said in a statement that the deduction will be available to all existing retail customers who have taken loans at floating rate before February 2020. PNB Housing Finance Managing Director and CEO Neeraj Vyas said, 'We have taken this step to provide relief to customers during the current Kovid-19 crisis. This will also help in growth in the housing sector. This will benefit 2.35 lakh customers, irrespective of the principal amount of their loan. The company provides housing and non-housing loans to its retail customers. Apart from this, the company also lends construction to real estate developers.

SBI had
first lowered the loan. Earlier on May 7, SBI also announced a reduction in MCLR. After the cut, the one-year MCLR has come down from 7.40 per cent to 7.25 per cent. It was reduced by 15 basis points, which would greatly benefit the customers. The new rates will be applicable from 10 May 2020. 

Customers will 
know that SBI has cut MCLR for the 12th consecutive time in the current financial year. This will greatly benefit the customers. This is because the EMI of their home loan will decrease. However if your home loan is linked to SBI's MCLR rate, the new deduction may not bring your EMI down immediately, as MCLR based loans usually have a one-year reset clause. Explain that MCLR rates are based on the bank's own cost. 

Home loan will be so cheap
In this context, SBI said that if you have taken a loan of Rs 25 lakh for a period of 30 years, which is MCLR based, the EMI of your home loan will be reduced by about Rs 255.



Adithya Varma,1,advanced insurance plans,1,afcat 2019,1,agriculture insurance,1,airtel,1,alagappa university result Alagappa University,1,Anna univeristy,3,anna univeristy news,2,anna univeristy results,2,Anna univeristy transcripts,1,anna university,5,anna university student login,1,Antariksham 9000 kmph,1,appario retail private ltd,1,Atal Bhujal Yojana,1,auto,4,bank holidays,1,bank loans,1,Banking,12,bigg boss kannada,1,budget,1,business,41,car insurance documents,1,car theft insurance,1,cbse exam result date,1,china,1,choosing health insurance,1,coronavirus,1,cyber defense insurance,1,cyclone,1,Dhillukku dhuddu 2,1,education,30,entertainment,4,Entrepreneurship,1,facebook,1,farmers got cheated,1,February 8,1,financial plans,1,financial support,1,Getmyuni,1,global health insurance,1,gmail,1,google,1,google cloud vps,1,government farmers insurance,1,government insurance loss,1,government jobs,1,Group D result,1,gtu,1,hall ticket,1,Happy Diwali Naraka Chaturdashi Images,1,health,23,health insurance,2,Health insurance certified plans,1,Health insurance floater plan,1,health insurance online,1,health insurance payment,1,health insurance schemes,1,Himansh Verma,1,honda amaze,1,hot dance video,1,HSSC Recruitment 2020,1,,1,idea,1,idra,1,insurance,4,insurance advice,1,insurance clams,1,Insurance Companies Cheated,1,insurance loss,1,insurance news,3,insurance premium,1,insurance safety,1,irda insurance,2,isro recruitmnet,1,JIPMER 2019 registration,1,jobs,4,kgf,1,kgf movie rating,1,kisan samman nidhi,1,last date,1,lic insurance,1,life insurance,1,maari 2,1,Madhyamik Result,1,Maha Shivratri,1,mari 2,1,mobile insurance,1,movie review,1,movie reviews,4,msbte exam form,1,msbte project competation 2020,1,msbte result,1,Navratri Diet,1,new health insurance,1,New insurance policy,1,New rules,1,NEWS,199,nnc,22,nnc1,8,nnc2,6,nokia 9,1,Om prakash singlaFraud caseonline cheatinginsurance fraud,1,oppo k1,1,Padi Padi Leche Manasu,1,panga movie review,1,panga movie wiki,1,phethai,1,Photos,1,pm kisan,1,pm kisan samman nidhi,1,pm kisan samman nidhi portal,1,pm kishan,1,pmkisan. gov. in,1,,1,pmkishan,1,pongal,4,premium insurance loss,1,promotion,1,Propose Day,1,railway group d result,1,railway group d result 2019,1,review,1,RRB Group D,1,RRB Group D Result,1,RRB Group D Result 2018,1,rrb group d result 2019,1,RRB Result,1,Sarileru Neekevvaru,1,satta matta matka,2,sbi,1,sci-tech,10,Shaunak Chakraborty,1,Sonu Nigam,1,spicejet free tickets,1,sports,31,ssc je,1,Status Quotes Online,1,stock market,1,stockmarket,1,student travel insurance,1,TATA Motors,1,tax news,1,tech,11,technology,9,travel insurance,1,vodaphone,1,Weather in Delhi,1,wedding ceremony insurance,1,West Bengal Police constable recruitment,1,What The Love,1,whatsapp,1,WhatsApp wishes,1,,1,
Today's Latest news, Know What's happening in India- with Good news: After SBI, now these banks also made loans cheaper, you will benefit..
Good news: After SBI, now these banks also made loans cheaper, you will benefit..
Today's Latest news, Know What's happening in India- with
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy