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Bangalore, Sept. 8 Canara Bank has reduced home loan rates by 0.25 per centage points for all fresh home loans from September 10, on account of the festival season. The rates for all new home loans up to Rs 30 lakh would be 8 per cent for the first 12 months, 9 per cent for the next four years, and benchmark prime lending rate minus 2.5 per cent subject to a minimum of 10 per cent thereafter, said a press release.

Similar changes have been announced for all new home loans above Rs 30 lakh and up to Rs 1 crore. The revised rates will be 8.75 per cent for the first 12 months, 9.5 per cent for the next four years and BPLR minus 2 per cent subject to a minimum of 10.5 per cent there after. The offer will be valid till December 31, the release said.

More Stories on : Housing Finance | Interest Rates | Public Sector Banks

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