Canara Bank slashes rates for housing loans by 50 bps

Bangalore: Canara Bank announced a retail loan festival from today till January 15 during which interest rates on housing and home improvement loans will be reduced by 50 basis points across all slabs and tenures.

The bank has also completely waived processing charges during this festival period, it said in a statement. It has also waived the 25 basis points additional interest being levied on borrowers acquiring a second residential unit.

In respect of vehicle loans availed during the period, borrowers need to pay reduced rate of interest by 100 basis points, besides being eligible for complete waiver of processing charges, the bank said in a statement.

Source: Financial Express