15 July 2010
Upto 30th June 2010, BPLR rate of bank is 12%. From 1st July 2010, Base rate concept is coming, as per this rate is presribed 6 to 8% .
The base rate, the floor below which a bank cannot lend even to its top-most client, is arrived after factoring in a bank’s cost of funds and other operating expenses. It is effective Thursday and replaces the much-abused benchmark prime lending rate (PLR).
hence as per my opinion , 12% p.a (1% pm) is normal lending rate in market.
Guest
Guest
(Querist)
15 July 2010
Hi,
As per query on 11/04/2010, expert Kartik_somu specified Rs. 6% as the lending rate, ie. the rate at which RBI grants loans to commercial Banks.
15 July 2010
Our group have 15 Company in which if we take loan/ depoist from other corporate or ousider, we provide 12% last 6 years. It is acceptable by IT authority also.