Interest rates in home loans have crossed the psychological mark of 6.5% to reach 6.4% that can spark another round of scramble among lenders
The bank was had been strategising policy through personal follow-ups and legal steps to recover NPAs.
Moorthy said that the bank has disbursed Rs 1,567.62 crore and covered 13,753 beneficiaries to help borrowers during the Covid-19 outbreak.
While lenders tend to give a gold loan up to 75% of the total metal value, it can inch as high as 80-85% in case of falling prices.
While some lending apps require personal information to conduct underwriting and authenticity checks, many small lenders levy an application fees too.
There was a 42% rise in demand for switching lenders in the first half of 2021, said the study
Easy credit can boost demand and MSME can use cheap loans to service the demand but everything substantially depends on consumer sentiment.
The credit outreach in every district of the country is expected to begin again in October 2021, Sitharaman informed.
The bank has also issued 15 crore shares through a qualified institutional placement (QIP) to raise equity capital.
Loan against property is available for longer tenures of up to 20 years and with speedy approval as property can get you flexible repayment options