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Thursday, Jun 03, 2004

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Corpn Bank cuts home loan rates

Our Bureau

Mangalore , June 2

CORPORATION Bank has reduced interest rate on its housing loan product - CorpHome - by 25 basis points with effect from June 1.

A bank release said here on Wednesday that the bank has slashed interest rate by 0.25 per cent for housing loans above five-year period.

However, loans below five years will continue to carry an interest rate of 7.5 per cent under the floating rate option and 8 per cent under the fixed rate option.

The interest rate for loan period of up to 10 years has been reduced by 25 basis points to 8 per cent and 8.5 per cent for floating rate and fixed rate, respectively.

For the period up to 25 years, the floating rate has been reduced from 8.5 per cent to 8.25 per cent, the release added.

More Stories on : Housing Finance | Interest Rates

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