Corporation Bank has reduced interest rates on home and vehicle loans as part of its ‘grand festival bonanza’. The offer is valid up to January 31.
A press release said 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 at the base rate of 10.25 per cent. For amount above Rs 50 lakh, the loan is offered at 10.50 per cent.
Processing charges will be fully waived for loans up to Rs 25 lakh, and 50 per cent concession is offered on loans above Rs 25 lakh. The rate of interest on 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.
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.
The statement said the bank has entered into a special arrangement with New India Assurance Company Ltd for offering insurance coverage for vehicle loans.
A press release said 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 at the base rate of 10.25 per cent. For amount above Rs 50 lakh, the loan is offered at 10.50 per cent.
Processing charges will be fully waived for loans up to Rs 25 lakh, and 50 per cent concession is offered on loans above Rs 25 lakh. The rate of interest on 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.
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.
The statement said the bank has entered into a special arrangement with New India Assurance Company Ltd for offering insurance coverage for vehicle loans.
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