IDBI Bank reviews retail lending rates on home, education loans

Mumbai, Nov 01 (UNI) IDBI Bank Ltd, has reviewed its Retail Lending Rates on Home Loans and Education Loans and has reduced the interest rates by 50 basis points across the board for all existing and new customers with immediately effect, a release said here todoy.

The revised Home Loan rates shall be 11 per cent per annum against earlier rate of 11.5 per cent per annum. Simultaneously, the margin on home loans has been enhanced from 15 per cent to 20 per cent for loans up to Rs 30 lakh and to 25 per cent for loans over Rs 30 lakh.

Similarly, a reduction of 50 basis points in interest rate has been effected in education loans, the release added.

UNI AR ZA NP1851