AGP Executive Report
Last update: 7 hours agoBorrowing Costs: The RBI’s 25-basis-point rate hike is set to lift costs on floating-rate home, auto and personal loans. On a ₹30 lakh home loan over 30 years, the increase could add about ₹500 to the monthly EMI, with further hikes possible. Personal Debt: U.S. personal loan balances have hit a 20-year high of $281 billion, up 9% in a year. A loan can cost less than credit-card debt, but running up card balances again after consolidating them risks doubling the debt burden. Household Strain: Buy-now-pay-later spending topped $160 billion in the U.S. last year, with plans increasingly used for essentials such as groceries, bills and rent. Meanwhile, lenders expect credit-card defaults to rise. Savings and Lending: NS&I has raised rates on British Savings Bonds to as much as 5.17%, while Citizens is restarting unsecured personal loans through a fintech partnership as demand for borrowing grows.
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