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Dena Bank Cuts Home Loan Interest Rates
June 19, 2017
Public sector lender Dena Bank has slashed the interest rates on home loans worth more than Rs. 30 lakh to Rs. 75 lakh by 5 bps. It has also dropped by rates on home loans more than Rs. 75 lakhs by 10 bps. This comes in after State Bank of India reduced the interest rates on home loans worth more than Rs. 75 lakhs by 10 bps last week.
The lower rates are based on the reduction risk weight by the Reserve Bank. It had reduced the loan to value ratios, standard asset provisioning rate, and risk weights, as announced in the bi-monthly policy review. Dena bank said that it has passed on these benefits to its customers.
