Menu
Search

Corp Bank to Cut Interest Rates on Home, Car Loans

Thursday, August 30, 2012
42
Separator
40
Separator
54
Separator
7
Separator
Print Print Email Email
News Content Image

Mangalore: Corporation Bank has decided to slash interest rates on home, car and educational loans with effect from September 1 for a three-month period.

The state-run bank has also decided to waive the processing fee for these loans.

The bank’s Chairman and Managing Director Ajai Kumar said the interest rates for Corp Home Housing loan for up to Rs.50 lakh would be 10.50 percent.

The rates would be 10.75 percent for loans up to Rs.1 crore and 11 percent for loans exceeding Rs.1 crore.

The bank hitherto charged 11.25 percent interest on home loans, he told PTI reporters.

In case of vehicle loans, customers would be charged at 11.25 percent for a five-year period.

The interest rate for auto loans with tenure of 7 years would be 11.75 percent as against 12 percent charged so far, he said.

Ashwani Kumar and Amar Lal, both Executive Directors of the bank and K Ramamurthy, General Manger were also present at the event.


Source: PTI
Write your comment now
Submit Reset
Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Captcha
Type the characters you see in the picture
  Submit