Syndicate Bank has announced to reduce its rate of interest on home loans on above Rs 75 lakh by 25 basis points, with effect from October 9.
Speaking about this on Friday, a spokesman of Syndicate Bank said all home loans irrespective of the quantum of loan will be on base rate of 10.25 per cent. Beside this, rate of interest on four wheelers loan has also been reduced from 11 percent to 10.90 per cent on this festival season.
He also said that Bank has slashed the services charges by 50 per cent on all housing loans and vehicle loans during the festival period.