November 7, 2008, Ratekhoj.com. Central Bank of India, a public sector bank in India, has announced in a press release that it has reduced its housing loan interest rates by 0.5% with effect from November 10, 2008.

Interest rates on housing loans up to Rs.30.00 lacs stands reduced from 9.50% to 9.00% for loans up to 5 years; from 10.00% to 9.50% for over 5 years to 10 years and from 10.50% to 10.00% for loans repayable in 10 years & above.
 
For loans of above Rs.30 lacs, the rates stands reduced from 10.75% to 10.25% up to 5 years; from 11.25% to 10.75% for over 5 years up to 10 years; and from 11.75% to 11.25% on loans repayable in 10 years & above. 
 
Interest rates on loans under fixed category remain unchanged.

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