PSU banks to slash home loan rates

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New Delhi, Feb 7, 2008 : Public sector banks, including Canara Bank, Corporation Bank and Allahabad Bank have decided to slash interest rates on housing loans. The banks have done this with the aim of keeping their prime lending rates or PLRs unchanged.

The revised interest rates for housing loans up to Rs 20 lakh are 10-10.5% and 10.25-10.75% for loans above Rs 20 lakh. The bank"s PLR stands at 13.25%.

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