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Our Bureau

Thiruvananthapuram , Oct. 16

STATE Bank of Travancore is offering reduced rates of interest on housing and car loans for the festival season.

The reduced rates will be for loans sanctioned up to October 31, according to a statement from the bank.

Housing loans with a tenor of up to five years will be offered at 7.25 per cent (fixed) and 7.75 per cent (floating).

For loans above five years and up to 10 years, the rates will be 8.25 per cent and 8.75 per cent. Loans above 10 years will attract interest rates of 8.25 per cent and 9 per cent respectively. For car loans, the rate of interest for periods up to three years has been reduced to 7 per cent (7.50 per cent), while for the above three years and up to five years tenure, the rate has been lowered to 7.25 per cent (7.75 per cent).

For five years and up to seven years, the rate has been reduced to 7.50 per cent (8 per cent).

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