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Corp Bank cuts interest rates on home loans

MANGALORE: Corporation Bank has cut floating interest rates on home loans by 75 basis points taking a cue from the Reserve Bank of India guidelines. The bank has effected a higher reduction for loans above Rs. 30 lakhs. The changes take effect from November 17. The bank informed that the reduction will apply to loans ranging from 5 to 15 years. The revision is applicable for all the existing as well as fresh loans sanctioned, says a release. — Staff Correspondent

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