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SBI has announced the launch of home loans linked to the repo rate, effective from July 1, 2019. RBI is continuously working on providing direct benefits to the borrowers, and therefore, they have shifted from PLR to base rate and then MCLR rate. The idea of launching MCLR Linked home loan was to ensure that any change in repo rate will change the cost of raising funds for the bank which will, in turn, lead to a change in the lending rates. There have been many repo rate cut by RBI showing that banks are not comfortable in passing rate cut benefits to the borrowers. The new repo rate linked home loan product will make policy transmission automatic. If three will be any change in the repo rate, this will also lead to a change in lending rates. With this view, the SBI initiative of repo rate linked home loan is aimed at passing direct benefits to the borrowers and thereby ensuring greater transparency in consumer loans. ...

It is probably impossible for unemployed youths to secure a loan from financial institutions these days. Getting a loan is difficult for them because they do not have a stable credit history or professional career in which the financial institutions decide the loans. So, to help them financially, there are several loans and government loan for unemployed youths  to help them pursue their dreams like: Cash Loans The government of West Bengal has started this scheme to support unemployed youths. Under this scheme, a jobless member can get loans of up to Rs. 50,000. Any member who is between 18 to 45 years of age can apply for this scheme. NEEDS Scheme This is a scheme where the state government provides a subsidy of 25% for any loan taken by unemployed youths who are graduates. Agriculture loan This is a very beneficial sche...

To curb the major problem of unemployment in the country, the government has introduced some schemes to facilitate the establishment of MSMEs and create employment opportunities. Also, there are Government-sponsored loans for unemployed youth to start their own business. Some of the loan schemes by the government are: 1. Pradhan Mantri Rozgar Yojna: This scheme was started in 1993 to provide finance to unemployed youth for starting a business. Some of its key features are: • Individuals who have studies class VIII can apply for a loan? • Training is given to the borrower for starting a business. • The maximum the loan amount available is Rs.5 lakhs. 2. Agriculture loans: Unemployed individuals above 22 who are small marginal farmers, tenant farmers, sharecroppers, etc. can apply for the loan. Loan up to Rs. 1 lakhs can be availed under this scheme. 3. New ...

Personal loans are one of the easiest ways to finance yourself to meet various unexpected expenses. If you meet the eligibility prescribed by the lender, you will easily get the loan. You need to fill an online application form and pay a processing fee to get the loan sanctioned. A personal loan is like a multipurpose loan which can be used to meet any financial need that you have. A good reason for personal loan . Some of them are described below: 1) Meet wedding expenses- Personal loans are best when it comes to meeting your unexpected wedding expenses. You can easily apply for the loan to meet all your wedding-related expenses. 2) To consolidate multiple debts: Loan can also be used to combine various loans are taken by you in a single debt that you can comfortably repay. 3) Improve your credit score: You can also apply for a short personal loan to improve your credit score to apply for future ...