Karnataka Bank Ltd has reduced interest rates on home loans and car loans by 20 basis points as part of a special campaign.
A press release by the bank said here that the loans extended during the campaign period from October 1 to March 31 will have the benefit of lower interest rate, longer loan period, lower EMIs and quick sanction.
During the campaign, housing loans up to ₹3 crore will attract an interest rate of 9.5 per cent, and loans up to ₹5 crore will attract 9.7 per cent.
The bank will offer car loans at 10.25 per cent interest during the campaign period, the release said.