Bank Rate is the rate at which central bank of the country (
Bank Rate in India is decided by RBI)
allows finance to commercial banks. Bank Rate is a tool, which central bank
uses for short-term purposes. Any upward revision in Bank Rate by central bank
is an indication that banks should also increase deposit rates as well as Base
Rate / Benchmark Prime Lending Rate.
Thus any revision in the Bank rate indicates that it is likely that
interest rates on your deposits are likely to either go up or go down, and it can also indicate an increase or decrease in your EMI.
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Showing posts with label Bank Rate. Show all posts
Showing posts with label Bank Rate. Show all posts
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