Corporation Bank to offer housing, vehicle loans at base rate

Corporation Bank will offer housing and vehicle loans at 10.25 per cent for certain slabs from June 1. In fact, 10.25 per cent is Corporation Bank’s base lending rate.

Addressing presspersons here on Friday, Chairman and Managing Director Ajai Kumar said the “monsoon bumper offer” would be in force from June 1 to September 30.

Under this offer, housing loans up to Rs 50 lakh would be offered at a floating rate of 10.25 per cent. Loans above Rs 50 lakh would be offered at 10.50 per cent. There would not be any processing charges or pre-payment penalty, he said.

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