IOB slashes interest rates by 2% on consumer durable loans

The bank has launched a new personal loan scheme for salaried class towards purchase of consumer durables

Press Trust of India Chennai
Last Updated : Oct 09 2013 | 8:10 PM IST
Public sector Indian Overseas Bank has slashed its interest rates on consumer durable loans by 200 basis points to 13.25% from 15.25% earlier with immediate effect.
 
"...Interest rates have been slashed by 200 basis points from current interest rate of 15.25% to 13.25% with immediate effect on easy terms and conditions," city- headquartered Indian Overseas Bank said in a statement.
 
Meanwhile, aimed at cashing on the forthcoming festive season, the bank has launched a new personal loan scheme for salaried class towards purchase of consumer durables, it added.
 
Shares of the bank ended at Rs 48.95 apiece up by 1.56% over previous close in BSE.

More From This Section

First Published: Oct 09 2013 | 8:08 PM IST

Next Story