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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Credit card rate cut ?

Credit card rate cut ?

Go down  Message [Page 1 of 1]

1Credit card rate cut ?  Empty Credit card rate cut ? Wed Jun 19, 2013 1:26 pm

Burpy


Senior Equity Analytic
Senior Equity Analytic
Which bank is mostly effected by interest rate ceiling for credit cards ? NTB has 10% its loan book in credit cards! scratch

2Credit card rate cut ?  Empty Re: Credit card rate cut ? Wed Jun 19, 2013 1:44 pm

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Is There a ceiling and what is the No. 28% currently ne ?

3Credit card rate cut ?  Empty Re: Credit card rate cut ? Wed Jun 19, 2013 1:52 pm

smalta

smalta
Senior Equity Analytic
Senior Equity Analytic
i heard from my friend it will come around 24% or some what

4Credit card rate cut ?  Empty Re: Credit card rate cut ? Wed Jun 19, 2013 2:11 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
NTB yesterday reduce the Variable loans rates by little around 1.5%, and recently deposits rate by 3%

5Credit card rate cut ?  Empty Re: Credit card rate cut ? Wed Jun 19, 2013 4:02 pm

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
NTB has reduced my total Loan installments (Variable) from 60 to 59 due to the interest rate cut. That is the way they adjust it.

I cant figure out what the calculation they did. If any body can explain plz do ...

6Credit card rate cut ?  Empty Re: Credit card rate cut ? Wed Jun 19, 2013 9:05 pm

kas

kas
Manager - Equity Analytics
Manager - Equity Analytics
When the rates are going up they have increased the number of rentals to be paid instead of increasing the amount paid as installment (keeping installment fixed) Now when the rates are coming down the they have reduced those installments.

7Credit card rate cut ?  Empty Re: Credit card rate cut ? Thu Jun 20, 2013 7:53 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
CB has pressurized all the banks to cut CC rates from 28% to 24%, it was on the news a week ago. The idea was to keep the inflation below 9%.

Arena,
NTB was the highest in lending rates imo..

8Credit card rate cut ?  Empty Re: Credit card rate cut ? Thu Jun 20, 2013 10:34 am

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
But they are the first to adjust CC interest rates. They are charging 22.5% for the Master Card.

9Credit card rate cut ?  Empty Re: Credit card rate cut ? Thu Jun 20, 2013 10:49 am

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
NTB offered me the best banking experience evr.

Call center is very good and no need to wait.
Loan of 15 x of my salary. Even i dint go to the bank once.
Interest was at 19.25 Floating when other banks were offering more, 3 months ago.
No personal guarantees at all.

Now I cancel my previous Credit card and opened a new one with NTB..........If there is a lease i will probably go for NTB again

This is how they capture the mkt slowly. Just give one loan at lower rate......................

10Credit card rate cut ?  Empty Re: Credit card rate cut ? Thu Jun 20, 2013 3:12 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Someone told me NTB will go ahead with the Master's Card and Amex might be changed to another Listed Bank, any idea from the Banking sector friends?

11Credit card rate cut ?  Empty Re: Credit card rate cut ? Thu Jun 20, 2013 3:22 pm

SL.Market

SL.Market
Vice President - Equity Analytics
Vice President - Equity Analytics
Please don't pay any interest for CC transactions. Only spend for the amount you can settle. I feel that it is very stupid thing is paying interest for the credit cards.

12Credit card rate cut ?  Empty Re: Credit card rate cut ? Thu Jun 20, 2013 3:25 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@SL.Market wrote:Please don't pay any interest for CC transactions. Only spend for the amount you can settle. I feel that it is very stupid thing is paying interest for the credit cards.

Agreed Friend, if you use the credit cards effectively u will win, if the credit limit is big u can even take a loan on CC and Put it to FD at higher rates if you have ability to repay monthly

13Credit card rate cut ?  Empty Re: Credit card rate cut ? Thu Jun 20, 2013 8:00 pm

suddera

suddera
Manager - Equity Analytics
Manager - Equity Analytics
@Gaja wrote:Someone told me NTB will go ahead with the Master's Card and Amex might be changed to another Listed Bank, any idea from the Banking sector friends?

Yes, NTB's monopoly is over and another listed bank has obtained license to issue Amex cards in SL.

@SL.Market
I completely agree with you. also banks gain more commission on CC transactions than overdue interest from their issued CCs.

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