The Mumbai based public sector bank, Union Bank of India may cut interest rates on home loan next month.
Mr. M.V. Nair , CMD ,Union Bank of India said, ''If NIM (net interest margin) continues to hold strong, we may reduce rates especially on the retail sides like home loan and education loan. At the end of December, 2011 the NIM was 3.3%. if the margins are above 3.3% in February, 2012 we will pass the benefit to customers."
Mr. M.V. Nair , CMD ,Union Bank of India said, ''If NIM (net interest margin) continues to hold strong, we may reduce rates especially on the retail sides like home loan and education loan. At the end of December, 2011 the NIM was 3.3%. if the margins are above 3.3% in February, 2012 we will pass the benefit to customers."
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