Indian Overseas Bank cuts consumer durable loan rates - NDTV

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Indian Overseas Bank cuts consumer durable loan rates - NDTV Oct 9th 2013, 15:13 Press Trust of India | Updated On: October 09, 2013 20:40 (IST) Chennai: Public sector lender Indian Overseas Bank has slashed interest rates on consumer durable loans to 13.25 per cent from 15.25 per cent with immediate effect. The bank said in a statement "interest rates have been slashed by 200 basis points from current interest rate of 15.25 per cent to 13.25 per cent with immediate effect on easy terms and conditions". Meanwhile, the bank also noted that it has launched a new personal loan scheme for salaried class towards purchase of consumer durables. The move is aimed at cashing on the forthcoming festive season. Shares in Indian Overseas Bank, on Wednesday, ended 1.56 per cent higher at Rs 48.95 apiece on the BSE. For Profit Update,

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