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YES Bank has been a strong proponent of deregulation of savings rate for over a year. The Reserve Bank of India's move will be a game changer for YES Bank, the banking industry and, most definitely, the savers.

Housing Development Finance Corporation (HDFC) has said slowing economy and rise in interest rates are unlikely to dampen the appetite for home loans in the country.

The Reserve Bank of India (RBI) has hiked interest rates 12 times in the past 20 months effectively increasing the rates by 3.75 percentage points. This leaves no option for banks but to pass on the rate hike to customers. Home-loan rates

RBI had asked banks to cut pre-payment penalties. NHB had says to housing finance companies (HFCs) to cut pre-payment penalties earlier in October. While all HFCs have complied with the guidelines, most banks are reluctant to do so.

The new rate is available for one to five years for home loan and five years for loan against property, with applicable rate beginning at 11.25 % for one-year tenor to 11.75 % for a five-year home loan.

HDFC Bank has launched premium credit cards exclusively for women, Bank Expects to add 4 million credit card customers in the next 2 years.

Prepayment penalty on home loans waived off by home loan lenders. Though prompted by regulatory persuasion and directives, some leading banks are using the abolition of prepayment charges to entice home loan borrowers

Indian automobile Bazaar is facing a spiky slowdown in sales growth as compared to growth registered in last few years, the luxury car segment seems to remain unaffected by the slowdown.

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State Bank of India said that closing down of pre-payment charges on home loan will not affect business. “Pre-payment charges make hardly any contributions to the revenue stream,”