Corp Bank Cuts Home Loan Rates
July 24, 2007: Corporation
Bank, an Indian bank in public sector, has
brought a drop in its Floating
Home Loan Rates by a quarter per cent.
The cut on interest rates will be applicable
to the Home
Loan Tenure of five to fifteen years.
The interest rate on home
loans with limits up to Rs 20 lakh as well
including it, has been reduced from 10.50
per cent to 10.25 per cent per annum, informs
A. Mohan Rao, General Manager.
Likewise, the interest rate
on Housing Loans in India, with limits as
well as above Rs 20 lakh has been brought
down by 0.25 per cent. Now it is 11.25 per
cent from the earlier 11.50 per cent.
The revision applies to the
floating rate Corp housing loans which will
be initially disbursed on or after July 23,
says Mr. Rao.
