Tag «Loan»

UBI cuts home loan rate to its lowest at 6.4%

By Administrator_ India Capital Sands Escalating competition in the festive season, public sector lender Union Bank of India┬áhas slashed interest rate on home loans by 40 basis points. The minimum rate of interest now starts at 6.40 percent, instead of 6.8 percent earlier. The reduced rate will be effective from October 27. Union Bank said …

Indians pawn gold for loans as borrowing from banks becomes tougher

Gold Treads Water as Investors Await U.S. Inflation Report

By Administrator_India Capital Sands Umesh Patil, a farmer in western India, pawned 40 grams of gold jewellery to raise 130,000 rupees ($1,723.11) to buy supplies needed to plant his next crop. Many Indians are using gold to secure loans, bankers and industry experts say, as banks are otherwise increasingly unwilling to lend during the coronavirus …