Saturday, June 7, 2014

Latest Banking Industry Updates India - Online Saving Investment Guide

Banking Industry Updates India

Rise in the Non Resident Indian (NRI) Deposits' Interest Rates - Online Saving Investment Guide

Non Resident Indian (NRI) Deposits' interest rates are hiked up recently. In December month, many banks are increased their interest rates on NRI saving deposits. Till now only 3.82% interest given to NRI's saving deposits by many banks. However with the effect of 16 th of this December, all banks are hiked up their interest rates for NRE (Non resident external), NRO (Non resident ordinary) deposits. The new interest rate is moved from 8% to 10% of on NR citizens deposits.

China Reduced the Reserve Requirement Ratio (RRR).

Recently China central bank has slashed the bank’s Reserve Requirement Ratio (RRR). This China Reserve Requirement Ratio will come from with the effect of 24th of February month. Due to this reduction in Reserve Requirement Ratio, China’s RRR is now became 20.5% from on 21%. The Chinese banking customers will able to get loaning, additionally 400 billion Uvans (China Currency name) from china’s banks.

Latest Indian Banking Sector Updates

SBI Announces Special Offer to Indian Railway Employees - Online Saving Investment Guide

SBI calls a Special Bumper Offer to all Indian Railway Employees only. State Bank of India is introduced a special salary account package for Indian railway employees. Details of this special salary account package is offered by State Bank of India,
  • Zero balance account,
  • Free drafts issue,
  • Purchase of gold at market lower price,
  • Besides to these, SBI bank offered the exclusive Home loans, Cars loans and Personal loaning at discount interest rates. So grab the avail opportunity with State Bank of India's salary account package.
Latest Banking News India

Oriental Bank of Commerce decreased Base Rate or minimum lending rate and Fixed Deposit Rates. 

Here is a Latest Banking News India on Oriental Bank of Commerce Base Rate and Fixed Deposit Rates. Oriental Bank of Commerce has slashed the Base Rate or minimum lending rate and Fixed Deposit Rates.

The OBC state-owned bank cuts its minimum lending rate or base rate to 10.65% from on 10.75%. The Oriental Bank of Commerce bank is currently reduced the interest rates 0.25% on the Fixed Deposits with maturity period of 1 to 2 years, to 9.50%.

Latest Indian Banking Domain Updates

Syndicate Bank opens new 108 Branches in All Over India. 

Here is Latest Indian Banking Domain News on Syndicate Bank new branches in India country. Syndicate Bank opens new 108 Branches All Over in India, At now the number of banks are totally reached to 2700 branches. Recently this bank opened all these new branches in 16 states of India. Syndicate bank has in Laksha Dveep island totally 9 branches and in Andaman Nicobar island totally with 10 branches.

Syndicate bank is currently planning to open another 200 more branches in all over India in coming months to next financial year and might reach 2900 branches in India country. Syndicate bank has a market share of 2.77 Lakh Crores Indian Rupees in the banking industry.

Latest Banking Updates in India

SBI lessens Old Home Loans to customers to get benefited with new interest rates.

Here are details on Indian banking sector news on SBI bank's home loans offers. Recently SBI bank lessens the Old Home Loans Customers to benefit with new interest rates. India’s largest lender State Bank of India has decided to revise their existing home loans at lower prices of interest rates.

SBI existing floating rates vary from 10.50% for up to RS 30 lakh loan, 10.75% for between 30 lakh and 75 lakh loan and 11% for loans above 75 lakh rupees. In a statement, SBI informed that fixed deposits with maturity period of 7-90 days will get 8% interest against the existing 7% of interest on FD savings investment.

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