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 Money & Banking - Housing Finance
IOB cuts housing loan rates

Chennai, Oct. 17

Indian Overseas Bank (IOB) has reduced the interest rates on housing loans under floating rate option by 50 basis points with effect from Thursday. However, existing borrowers will not get the benefit as the revised interest rates are applicable for fresh accounts. Additional concession up to 50 basis points is allowed if the margin offered is 25 per cent and above, an official release said. Concession in processing charges up to 50 per cent is also allowed, the release added. - Our Bureau

More Stories on : Housing Finance | Public Sector Banks

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