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 Money & Banking - Interest Rates
IDBI Bank cuts retail lending rates

Chennai, Nov. 1

IDBI Bank has cut its retail lending rates on home and education loans. It has reduced the interest rates by 50 basis points across the board for all existing and new customers with effect from November 1, 2008. The revised home loan rates shall be 11 per cent per annum against earlier rate of 11.5 per cent per annum. Simultaneously, the margin on home loans has been enhanced from 15 per cent to 20 per cent for loans up to Rs 30 lakh and to 25 per cent for loans over Rs 30 lakh. - Our Bureau

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