Corporation Bank : Cuts Housing Loan Rates

MANGALORE based Corporation Bank has reduced interest rates on home loans with effect from June 1, 2012

The reduction varies from 0.10% to 0.75% for different tenors &  the amount of loans sanctioned.

Following are the floating rates of interest for housing loans.

For loans up to 10 years tenor, the new rate will be 10.50% for amount up to Rs. 25 lakh; 10.75% for loans above Rs. 25 lakh and up to Rs. 50 lakh; and 11% for loans above Rs. 50 lakh &  up to Rs. 1 crore; and 11.25% for loans above Rs. 1 crore.

(Previously, there were  tenors of up to 5 years, and above 5 years to 10 years.)

In the loans above10 years and up to 25 years tenor, the new rates will be 10.75% for amount up to Rs. 25 lakh; 11% for loans above Rs .25 lakh and up to Rs. 50 lakh; and 11.25% for loans above Rs. 50 lakh.

(Previously, there were 2 tenors of above 10 years &  up to 15 years, and above 15 years & up to 25 years.)

The fixed rate of interest for amount up to Rs. 25 lakh remains unchanged at 13.35%, and for loans above Rs. 25 lakh at 13.85%.


Corporation Bank
Corporate Office
Mangaladevi Temple Road
Pandeshwar MANGALORE - 575 001
Karnataka, India
Tele: 91-824-2426416 to 420
Fax: 91-824-2440964
 
http://www.corpbank.com/

For Queries relating to Retail LoansCorporation Bank
Retail Lending Division, Corporate Office
Mangla Devi Temple Road, Pandeshwar MANGALORE 575 001
   
Contact Email:  horls@corpbank.co.in

Share: