Karnataka Bank slashes its interest rate on home loan
DSIJ Intelligence / 03 Jun 2017
On Friday, Karnataka Bank Ltd. posted that their housing loan interest rate will be diminished by about 0.40 per cent. This change will be effective from June 1, 2017.
On Friday, Karnataka Bank Ltd. posted that their housing loan interest rate will be diminished by about 0.40 per cent. This change will be effective from June 1, 2017.
Now, for the home loan of up to Rs 75 lakh interest that will be charged 8.60 per cent per annum and for the home loan above the 75 lakhs or up to 5 crore interests will be 8.90 per cent per annum.
The considerable reduction in the housing loan rates by banks will boost the sulking real estate sector of India, believe experts.
On June 2, 2017, Karnataka Bank was trading at Rs 176.80, down by 2.15 points or 1.20 per cent on BSE at 16:00. It opened at Rs 180.90 while on Friday it closed at Rs 178.95.
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