Central Bank slashes rate by 50 bps on retail lending till Oct 31

Mumbai, Sept 15 (UNI) The public sector Central Bank of India has reduced the interest rate of its retail lending schemes by 50 basis points (bps) for ''Festival Season''.

Announcing this, the Bank's release said today that the retail lending schemes in which interest rates has been reduced are consumer durables, housing, vehicle, jewel loans and loans to teachers and students besides loans tours.

Further, the Bank said it has waived the processing charges in respect of Housing Loan from September 15 to October 31 this year.

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