minimunch

Effective July 1st, almost all the banks have hiked up the loan interest percentages. Leading private sector lender, HDFC Bank, has hiked its prime lending rate (PLR) by 0.75 per cent to 16 per cent. State Bank of India has raised it by 0.5%. Having taken home loans, am sure it is going to be very difficult for people to cope with this hike. This specially holds good for people with multiple loans. So beware everyone and look before you leap. I will squarely blame it on the economy slow down, rise in oil prices and our Finance ministry not doing much about it.

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