Comments
Corporation Bank has reduced interest rates on home and vehicle loans as part of its ‘grand festival bonanza’.
A late evening press statement said here on Tuesday that the bank has reduced interest rates on home loans by 0.5 per cent. The floating rate of interest for all tenors and for amounts up to Rs 50 lakh is now offered at base rate.
The base rate of the bank is 10.25 per cent. For amount of loan above Rs 50 lakh, the loan is offered at 10.50 per cent. The processing charges are fully waived for loans up to Rs 25 lakh, and 50 per cent concession is offered on loans above Rs 25 lakh.
The statement said that the rate of interest on the four-wheelers for personal use has been reduced by 1 per cent. Vehicle loans up to Rs 50 lakh are offered at 10.65 per cent, and 50 per cent of applicable processing charges are waived.
The bank has reduced interest rates on loans for consumer durables up to Rs 5 lakh by 1.75 per cent. The rate of interest is reduced from 12.25 per cent to 10.50 per cent for kitchen and home appliances, solar panels, water heaters, etc., it said.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.