Syndicate Bank cuts interest rate on vehicle, consumer durable loans - Hindu Business Line

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Syndicate Bank cuts interest rate on vehicle, consumer durable loans - Hindu Business Line Oct 22nd 2013, 09:46 Bangalore, Oct 22:   SyndicateBank has slashed the interest rates on vehicle loans, consumer durable loans and light and heavy commercial vehicle loans. To commemorate its Foundation Day, the bank is offering home loans at 10.25 per cent (base rate) for both the existing and new borrowers irrespective of the loan amount. Interest rate on two-wheeler loans has been reduced from 12.25 per cent to 11.5 per cent (base rate + 1.25 per cent). For others, it is 12 per cent (base rate + 1.75 per cent). Interest rate on four-wheeler loans has been brought down from 10.9 per cent to 10.4 per cent (base rate + 0.15 per cent). Other borrowers will be charged at 10.75 per cent (base rate + 0.50 per cent). Interest rate on loans to consumer durables has been brought down from 15 per cent to 11.75 per cent (base rate + 1.5 per cent) for home loan borrowers. For others, it is 12.75 per cent (base rate + 2.50 per cent). Interest rate on loans to light and heavy commercial vehicles has also been brought down from 12.75 per cent to 11.5 per cent. anil.u@thehindu.co.in (This article was published on October 22, 2013)

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