MUMBAI: Non-banking financial companies (NBFCs) are increasingly looking overseas for funds as domestic banks have been slow in passing on the benefits of the recent 50 basis points (bps) repo rate cut, according to experts. Many banks have only marginally reduced their marginal cost of funds-based lending rate (MCLR) by 5-10 bps, prompting NBFCs to
PNB Housing Finance has launched a fixed-rate non-home loan (NHL) product. The new offering targets customers seeking credit for purposes other than home purchase. The fixed-rate scheme applies to loan against property, commercial plot purchase, loan against plot, and lease rental discounting. Interest rates start at 10%, based on the borrower’s eligibility. Loan tenures can
PNB Housing Finance reported a strong performance for Q4 FY25, with net profit rising by 27.7% year-on-year to ₹567 crore, compared to ₹444 crore in the same quarter last year. This growth was driven by a solid 20% increase in net interest income (NII), which stood at ₹736 crore, up from ₹614 crore in Q4