Public sector Indian Bank has reduced the interest rates on home and vehicle loans by up to 0.20 per cent with immediate effect.
As per the revised rate of interest, home loans for up to Rs 75 lakh, the interest rates has been revised from 9.65 per cent to 9.55 per cent while for loans above Rs 75 lakh it has been reduced to 9.75 per cent from 9.90 per cent.
For loans towards purchase of new cars, the interest rates were cut to 9.95 per cent from 10.15 per cent, the Chennai-based bank said in a statement.
