According to a statement issued by the bank, the new rate of interest on all new home loans upto Rs 30 lakh will be eight per cent for the first 12 months.
For the next 48 months it would be nine per cent and BPLR 2.50 per cent subject to a minimum of 10 per cent thereafter.
And for all new home loans above Rs 30 lakh and up to Rs 1 crore similar changes have been effected.
The rate will be 8.75 per cent for the first 12 months, 9.50 per cent for the next four years and BPLR 2 per cent with a minimum of 10.50 per cent thereafter.
The Bangalore-based public sector lender informed that these new rates which comes as a part of festival offer will be valid till Sept 30.