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Wednesday, August 7, 2013

Federal Bank revises home, auto loan rates for festival season

Federal Bank revised lending rates in the home and car loans segment for the month of August and September.

During this period, the bank will offer a uniform concessional interest rate of 10.25 per cent for all housing loans regardless of the amount and period of loans, the old private sector bank said in a statement.

Car loan rates will be offered at a starting rate of 10.25 per cent. No processing fee will be levied on housing loans and car loans during the festival period.

The revised rates will be offered from August 5 to September 30.

At present, the Kerala-based bank’s base rate (the minimum lending rate that the bank offers) is 10.20 per cent.

Special Loan stalls will be put up in different centres in Kerala and will facilitate spot sanction of loans. Customers can also avail various top-up loans linked to their housing loans at concessional rates. Special house warming loan to celebrate the auspicious occasion will also be available, the bank said.

Source: Financial Express


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