#1
25th December 2015, 09:33 AM
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PLR of ING Vysya Bank
Hello sir I want to know about the Prime Landing Rates of ING Vysya Bank so please provide me information about the same.
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#2
25th December 2015, 09:34 AM
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Re: PLR of ING Vysya Bank
ING Vysya Bank is a privately owned Indian multinational bank based in Bangalore, with retail, wholesale, and private banking platforms. PLR of ING Vysya Bank ING Vysya Bank decides its own PLR from time to time. The RBI or NHB do not mandate or decide the PLR of any NBFC or HFC. NBFC’s have a higher cost of raising funds and higher cost of operations than those of banks, mostly they tend to offer loans at higher interest rates compared to banks Sometimes, NBFC’s may have different benchmark PLR’s by customer segment and by product. E.g., an NBFC may have one PLR (Prime Landing Rates) for retail and another one for corporate When pricing a loan, ING Vysya Bank offers a discount to the PLR to arrive at its lending rate. ING Vysya Bank revises base & PLR rate ING Vysya Bank Ltd announced an increase of 0.25 per cent in the base rate. The revised rate will be 10.45 per cent as against the current rate of 10.20 per cent per annum. The bank also increased the bank reference rate by 0.25 per cent to 19.00 per cent and the home loan reference rate by 0.25 per cent to 19.50 per cent. BPLR and Base Rates The 'Benchmark PLR' of the Bank has been revised downward from the current 18.50% to 18.25%. Base Rate of Kotak Mahindra Bank Ltd with effect from October 05, 2015: 9.50% (In-house benchmark rate linked to which loans are priced) Advantages of Base Rate: The Base Rate system is aimed at enhancing transparency in lending rates of banks and enabling better assessment of transmission of monetary policy. |
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