Tag Archives: Lending

Lending startups now chase logistics firms

Bengaluru: Loans to logistics companies are going digital, with startups in the space looking to leverage data and technology to formalise credit to truckers, fleet owners and truck drivers. Startups such as Loanzen and BlackBuck are lending to driver owners, fleet operators and even first-time borrowers, to finance vehicles and also to fund purchases of spares. “We are looking at ways to fund for ... Read More »

Digital lending startups enter classrooms to grow business

While it might push up interest rates, in many cases institutes are open to bearing the interest rates, since quick financing options give them more applicants. BENGALURU: Digital lending startups have started giving out loans for education and professional courses, expanding from focusing mostly on the personal loans and consumer lending space. Bengaluru-based Zest Money is betting big on lending for professional education purposes ... Read More »

Small business lending in Mexico gets a boost

Micro-lending and small business financing are a critical component of economic growth in around the world, and the need for access to low-cost capital is especially important in developing countries. The Catch-22 is that these countries are also the ones where the lending markets are the least developed and where most financial institutions are reluctant to lend money to people ... Read More »

State Bank Of India Cuts Lending Rate By 0.9% Across Maturities

Mumbai: State Bank of India, the country’s biggest lender by assets, said on Sunday it had cut its lending rates by 90 basis points for maturities ranging from overnight to three-year tenures, after experiencing a surge in deposits. After the move, its so-called overnight marginal cost of funds-based lending rate (MCLR) fell to 7.75 per cent from 8.65 per cent, ... Read More »

Notes Ban Impact: EMIs To Fall As SBI, Other Banks Cut Lending Rates

New Delhi: Top PSU lenders State Bank of India, PNB and Union Bank on Sunday slashed their benchmark lending rates by up to 90 basis points, a day after Prime Minister Narendra Modi asked banks to priorities their lending towards the poor and middle class. The country’s largest lender, SBI, has reduced marginal cost of funds based lending rate (MCLR) ... Read More »

IFCI Raises Lending Rate By 10 Basis Points To 8.6 Per Cent

New Delhi: Term finance lender IFCI today said it has raised benchmark lending rate by 0.1 percentage point (10 bps) to 8.6 per cent. The company has changed its its short-term benchmark rate (IBR-ST) from 8.50 per cent to 8.60 per cent with monthly rests for lending for tenure up to three months only, IFCI said in a statement. The ... Read More »

Axis Bank Cuts Lending Rates By Up To 0.15%

Mumbai: Country’s third largest private lender Axis Bank on Friday announced up to 0.15 per cent reduction in its lending rates, signalling a further downward trend in borrowing costs. The Ahmedabad-headquartered bank cut its overnight marginal cost of funding-based lending rate – the most competitive offering by rates – by 0.10 per cent to 8.55 per cent. The MCLRs for ... Read More »

Axis Bank Sees Reduction In Lending Rates Post-Demonetisation

Mumbai: Axis Bank expects a dip in lending rates because of the surge in deposits which lenders are experiencing in the aftermath of the government’s move to scrap Rs 500 and Rs 1,000 notes. “The deposits are into savings or current accounts which are low cost ones. An increase in them should bring down our cost of funds,” Rajiv Anand, ... Read More »

Axis Bank Lowers Lending Rate

New Delhi: Private sector lender Axis Bank on Wednesday cut its lending rate by 0.05 per cent, a move which will lower EMIs for its new borrowers. The new rate for one-year lending tenure has been reduced to 9.25 per cent from 9.30 per cent, Axis Bank said in a statement. Similarly, the two-year marginal cost of funds-based lending rate (MCLR) stands reduced to 9.35 ... Read More »