MANGALORE based Corporation Bank has reduced interest rates on home loans with effect from June 1, 2012
The reduction varies from 0.10% to 0.75% for different tenors & the amount of loans sanctioned.
Following are the floating rates of interest for housing loans.
For loans up to 10 years tenor, the new rate will be 10.50% for amount up to Rs. 25 lakh; 10.75% for loans above Rs. 25 lakh and up to Rs. 50 lakh; and 11% for loans above Rs. 50 lakh & up to Rs. 1 crore; and 11.25% for loans above Rs. 1 crore.
(Previously, there were tenors of up to 5 years, and above 5 years to 10 years.)
In the loans above10 years and up to 25 years tenor, the new rates will be 10.75% for amount up to Rs. 25 lakh; 11% for loans above Rs .25 lakh and up to Rs. 50 lakh; and 11.25% for loans above Rs. 50 lakh.
(Previously, there were 2 tenors of above 10 years & up to 15 years, and above 15 years & up to 25 years.)
The fixed rate of interest for amount up to Rs. 25 lakh remains unchanged at 13.35%, and for loans above Rs. 25 lakh at 13.85%.
Corporation Bank
Corporate Office
Mangaladevi Temple Road
Pandeshwar MANGALORE - 575 001
Karnataka, India
Tele: 91-824-2426416 to 420
Fax: 91-824-2440964
http://www.corpbank.com/
For Queries relating to Retail LoansCorporation Bank
Retail Lending Division, Corporate Office
Mangla Devi Temple Road, Pandeshwar MANGALORE 575 001
Contact Email: horls@corpbank.co.in
The reduction varies from 0.10% to 0.75% for different tenors & the amount of loans sanctioned.
Following are the floating rates of interest for housing loans.
(Previously, there were tenors of up to 5 years, and above 5 years to 10 years.)
In the loans above10 years and up to 25 years tenor, the new rates will be 10.75% for amount up to Rs. 25 lakh; 11% for loans above Rs .25 lakh and up to Rs. 50 lakh; and 11.25% for loans above Rs. 50 lakh.
(Previously, there were 2 tenors of above 10 years & up to 15 years, and above 15 years & up to 25 years.)
The fixed rate of interest for amount up to Rs. 25 lakh remains unchanged at 13.35%, and for loans above Rs. 25 lakh at 13.85%.
Corporation Bank
Corporate Office
Mangaladevi Temple Road
Pandeshwar MANGALORE - 575 001
Karnataka, India
Tele: 91-824-2426416 to 420
Fax: 91-824-2440964
http://www.corpbank.com/
For Queries relating to Retail LoansCorporation Bank
Retail Lending Division, Corporate Office
Mangla Devi Temple Road, Pandeshwar MANGALORE 575 001
Contact Email: horls@corpbank.co.in
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