BackCorp Bank to cut interest rates on home, car loans from 1 Sep
Corp Bank to cut interest rates on home, car loans from 1 Sep
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Mangalore: Corporation Bank has decided to slash interest rates on home, car and educational loans with effect from 1 September for a three-month period. The state-run bank has also decided to waive the processing fee for these loans.
The bank hitherto charged 11.25% interest on home loans, he told reporters here on Wednesday. In case of vehicle loans, customers would be charged at 11.25% for a five-year period. The interest rate for auto loans with tenure of 7 years would be 11.75% as against 12% charged so far, he said.
Kumar said the bank has launched Corp Doctor Plus scheme for medical professionals, under which any registered medical can avail loans at 12.10% interest rate against the existing rate of 12.60%. Ashwani Kumar and Amar Lal, both executive directors of the bank and K Ramamurthy, general manger were also present at the event.
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