A recent pres report said that Dena Bank has launched a loan mela of its own under which it offers a 25 basis points discount on new home and auto loans, besides halving the processing fee.
Reports said that the benefits under festival offer will be effective from October 1 to December 31, 2011. The bank has reduced the interest rates on new housing loans and car loans by 25 basis points on the card rate. To give further benefit to customers, it has also reduced the processing on new loans by 50 percent from the existing one percent. The bank’s Current base rate stands at 10.70 percent and the rebate will depend on the quantum and tenure of the loan.
Reports also said that the bank’s prevailing lending rate varies from 11.20 to 12.75 percent in case of floating home loans; while for the fixed rate loans it varies from 11.50 to 12.75 percent. For auto loans up to three years, its interest rate is 13.25 percent and those above three years, it is 13.75 percent, adding the 25 bps discount will be applicable on these rates.