BoI rationalises its home loan rates

Mumbai, Aug 22: Public sector lender Bank of India has rationalised its interest rate on home loans upto Rs 30 lakh and above with effect from August 10. Interest rates on loans upto Rs 30 lakh have been retained at existing range of 9.50 per cent per annum to 10.00 per cent.

Interest rates on loans over Rs 30 lakh range between 10.25 per cent to 11.75 per cent, the bank said in a statement. The revised rates are applicable to new loans only, it added.

UNI