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Our Bureau

Thiruvananthapuram, Aug. 6 State Bank of Travancore has announced Onam festival concessions of 0.50 percentage points on housing and car loans sanctioned from Saturday till the end of the month.

The processing charges will be waived during the period, a bank spokesman said. Accordingly, the floating ad fixed interest rates per annum for housing loans with a tenor up to five years will be 10 per cent and 12 per cent respectively.

For those above five years, the rate will be 10.50 per cent and 12 per cent respectively. The interest rates per annum for car loans up to three years will be 11.50 per cent and for those above three years up to five years 11.75 per cent and above five years up to seven years, 12 per cent.

The margin money requirement will be limited to 10 per cent instead of the normal 15 per cent, the spokesman said.

The bank also announced new rates for domestic term deposits and non-resident ordinary term deposits for various periods with effect from Monday.

These are (in percentage figures with existing rates in bracket): Seven days to 14 days (minimum deposit Rs 1 lakh) 3.50 (4.50); 15 days and above up to 30 days 4.00 (5.00); 31 days and above up to 45 days 4.50 (5.00); 46 days and above up to 90 days 5.00 (5.50); 91 days and above up to 179 days 5.50 per cent (6.00 per cent).

180 days and above but less than one year – on deposits less than Rs 15 lakh 7.00 (8.00); Rs 15 lakh to Rs 4 crore 7.50 (8.25).

One year and above but less than two years – less than Rs 15 lakh 8.75 (9.50); Rs 15 lakh to Rs 4 crore 9.00 (9.50).

Two years and above but less than three years 9.00 (8.75); three years and above but less than four years 9.00 (9.00); four years and above but less than five years 9.00 (9.50) and five years and above 9.00 (9.00).

Resident senior citizens will get an additional 0.50 per cent on deposits of Rs 5,000 and above for periods of one year and more.

More Stories on : Consumer Finance | Public Sector Banks | Cars | Kerala

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