Indian Bank reduces interest rates!
Posted on: 05/Oct/2015 9:48:20 AM
Indian Bank has reduced the interest rate on loans by 0.3%. This will be effective from 7th October.With this, the basic interest rate at Indian Bank will be 9.65%.
State Bank of India, Bank of Baroda, Punjab National Bank, Karur Vysya Bank, and Syndicate Bank have all announced reduction in the interest rate for loans over the last few days.
Earlier, Reserve Bank of India had reduced the interest rates for short-term loans extended to other banks by 0.5%. As a consequence and with the purpose of extending this concession to their customers, all banks have announced reduction in the interest rates for loans.
