Canara Bank reduces interest on loans

Bangalore, Oct 16 (UNI) The public sector Canara Bank today announced reduction in rate of interest on personal loans by 50 basis points (bps) and vehicle loans by 25 bps with effect from October 17.

The rate of interest on fresh Canbudget loans, for salaried class, had been reduced to 13.25 per cent from 13.75 per cent and on Canmobile loans to 11.50 per cent from 11.75 per cent, according to a release here.

The bank had recently announced reduction in the rate of interest on fresh housing loans by 50 bps on all slabs and tenures with effect from October four.

UNI