More
state owned banks are responding to finance minister Mr. P.Chidambaram plea to
cut interest rates to spur growth.
On
recently, 3 banks - Corporation Bank, Union Bank of India (UBI) and Central Bank of India slashed interest
rates on housing loans.
Corporation
Bank..!
Corporation
Bank has slashed interest rates on housing loans with effect from September 1,
2012 for a 3 month period & also waived the processing fee.
A
home loan from Corporation Bank up to Rs. 50 lakh would be available at 10.5%,
up to Rs. 1 crore at 10.75% and above Rs. 1 crore at 11%.
Central
Bank of India ..!
Central
Bank of India too, has decided to cut rates by 0.25 to 0.5%. For housing loans above Rs. 30 lakh &
above Rs. 75 lakh, has reduced interest rate by 0.25%.
UBI..!
UBI
had announced a reduction in interest rates on home loans to 10.25% and waived
0.5% processing fees on loan amount.
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