HDFC Bank charges interest rate on its home loan in the range of 9.4 to 9.95 percent per annum. SBI charges a rate that hovers between 9.15 percent and 9.75 percent based on the borrower’s CIBIL score.
Typically, money market account interest is compounded daily and added to your account monthly. Learn more about how to maximize your money market account earnings.
A new report conducted by Ernst & Young LLP, commissioned by the Canadian Lenders Association (CLA), highlights the severe, far-reaching consequences of the federal government's new interest rate cap. The study reveals that a reduction to the allowable rate of interest will remove $10.7 billion from the Canadian economy each year, eliminate nearly 50,000 jobs and cost borrowers up to $4.4 billion in additional interest payments to payday lenders and illegal lenders, as a result of being turned a