| PNB considering cut in exposure to personal loans
New Delhi, April 9 (PTI): Punjab National Bank, the country's second-biggest public sector lender, plans to cut exposure to personal loans, including home finance, to bridge the gap between higher credit offtake and lower deposits. "The bank is concerned over widening gap between resource mobilisation and credit expansion and will soon take decisions on curtailing credit exposure by reducing personal loans," PNB Chief General Manager U S Bhargava said. The bank's asset liability committee (ALCO) will meet later this week to decide on the issue, he added. PNB's credit exposure is growing at 28 per cent as against a growth of 20-22 per cent in resource mobilisation. The bank had earlier indicated it could increase the Prime Lending Rate (PLR) by 25 to 50 basis points and interest rates on all types of personal loans, including housing loans.
2007 BUDGET - ECONOMIC PERSPECTIVE AND OBJECTIVES EÄIC
IT is important that the review of our economic circumstances, and the scope and intent of the economic and financial policies which will be presented today should be set within the context of the strategic objectives which have been established for our nation. Parliament has, within the past year, received and approved The National Strategic Plan of Barbados 2006-2025 . Our N ational Strategic Plan commits us to the goal of becoming, by 2025, a fully developed society that is prosperous, socially just and globally competitive. It envisions a society driven primarily by a services economy, fuelled by a steady rate of exp ort growth, with a state of the art information and communications infrastructure, a high savings rate, widespread material prosperity, full employment, an equitable distribution of income and wealth and an enhanced quality of life.
The costs of bad credit
As with any other personal loan, the interest rate you get largely depends on your personal circumstances. However, with this particular type of loan, the single most important factor in determining the rate you get is your credit history. A poor credit rating means that the interest rate you will pay will be markedly higher than with other unsecured personal loans. As most bad credit loans are likely to be variable rate deals, you should be aware that your loan repayments will change in line with interest rates. Click here for more on fixed and variable rates. If you intend to pay your bad credit loan off early then make sure that you know what the early redemption penalties (if any) are. Remember: if you want to repair your credit rating over time then you need to make every payment on any loan you are given.
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