 "Vijaya Bank cuts rates on auto, consumer durables")
Bangalore-based public sector lender Vijaya Bank on Friday reduced interest rate on vehicle loans and consumer durables.
Interest rate on four wheeler loans have been slashed by 30 basis points to 10.75 per cent per annum and interest rate on two wheeler loans have been reduced by 45 basis points to 10.60 per cent per annum, Vijaya Bank said in a statement.
Interest rate on consumer durables for salaried class has been slashed by 220 basis points from 14.70 per cent per annum to 12.50 per cent per annum.
The current home loan interest rate under festive offer is 10.25 per cent per annum for loans up to 75 lakh and 10.50 per cent per annum for loans above 75 lakh.
The new interest rates are effective from October 11, 2013.
Interest rate on four wheeler loans have been slashed by 30 basis points to 10.75 per cent per annum and interest rate on two wheeler loans have been reduced by 45 basis points to 10.60 per cent per annum, Vijaya Bank said in a statement.
Interest rate on consumer durables for salaried class has been slashed by 220 basis points from 14.70 per cent per annum to 12.50 per cent per annum.
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The Bank has already reduced home loan interest by 80 basis points.
The current home loan interest rate under festive offer is 10.25 per cent per annum for loans up to 75 lakh and 10.50 per cent per annum for loans above 75 lakh.
The new interest rates are effective from October 11, 2013.