Dena Bank cuts interest rates on home, car loans

Public sector lender Dena Bank on Wednesday reduced interest rates on various retail loans including home and car loans.

The bank will provide home loan at base rate, which is at 10.25 per cent for up to Rs 100 lakh and 10.50 per cent for home loan above Rs 100 lakh.

The interest rates on car loan also have been reduced by 100 basis points to 11 per cent from 12 per cent.

Similarly, for consumer loan, in case of tie-up under Corporate Salary Scheme rate of interest has been reduced by 100 basis points to 12 per cent from 13 per cent.

On a combo loan of car loan with home loan will be offered at 10.25 per cent up to the limit of Rs 100 lakh and at 10.50 per cent above Rs 100 lakh.

Dena bank will also offer a combo loan of car loan and consumer durable loan with home loan. The bank’s offer on consumer durable loan along with home loan will be at 11.75 per cent.

Source: Business Line

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