Indian Bank reduces interest on home and vehicle loans
Posted on: 20/Oct/2015 11:04:10 AM
Reserve Bank of India keeping in mind the country`s economical growth has reduced the interest by 0.5% on the short term loan given by the banks. So far 1.25% interests have been reduced.
Since the Reserve Bank has reduced the interest, the public are highly expecting that the interest on personal loans, vehicle loans and home loans will be reduced.
After this, the banks are reducing the interest. At this juncture on the occasion of the festive season, the Indian Bank has announced that the interest on home loans and car loans will be reduced. This will be beneficiary for the people.
M Nagarajan who is the General Manager and Chennai North Zone Manager while speaking said, In order to celebrate the festive season, the Indian Bank has reduced the interest of home loan by 9.65% and vehicle loan by 10%. Moreover the re-evaluate fees for the houses worth Rs 75 Lakhs have been fully exempted. Revaluation fees for Vehicle loans have been reduced by 50%. Hence I request the customers and general public to use this opportunity.
