Syndicate Bank home loan rates reduced

 SyndNivas, the home loan product, will now charge 8 per cent interest on fixed rate loans for durations up to six years, 8.5 per cent on loans between six and twelve year duration, 8.75 per cent rate on loans between 12 and 18 year duration, 9.0 per cent on loans between 18 and 25 year duration.

 For floating rate loans, the rate is 25 basis points lower than the fixed loan rate for respective durations.

 The bank has also waived processing fee on all new loans availed from November 1 to March 31,2004. It has also extended the loan repayment period up to 25 years.

 SyndVahan, the bank's vehicle loan scheme will charge an interest rate of 9.5 per cent on loans upto Rs 2.5 lakh and 10.5 per cent on loans above Rs 2.5 lakh. The new rates are about 300 basis points less than the earlier rates.