Can Fin Homes Ltd. (CFHL), a subsidiary of Canara Bank, today announced a reduction in their interest rates on existing individual variable rate housing loans to 10.75% with immediate effect.
The new variable rates for all fresh variable rate loans are 10.25% for loans up to Rs 5 lakh, 10.50% for loans above Rs 5 lakh and below Rs 30 lakh, and 11% for loans above Rs 30 lakh. The revised rate of interest on fixed rate loans is 12.50 per cent.
The reduced rates are applicable for all repayment periods, a statement issued by Canara Bank said.
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