In a move to capture more customers during the festive season, Karnataka based Syndicate Bank on Thursday announced a reduction of interest rates on housing loans above Rs75 lakh by 25 basis points or 0.25 per cent effective from October 9, 2013. After slashing the interest rates, all home loans above Rs75 lakh would be given at 10.25 per cent.
The Bank also slashed the service charges by 50 per cent on all housing and vehicle loans just for this festive season. The Bank has already reduced the rate of interest on four wheeler loans by 10 basisi points to 10.9 % .