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UCO Bank to slash home, education loans rates

UCO Bank to slash lending rates by 25 to 50 bps

Apnaloan.com Research Bureau

27 May 2008

UCO Bank is set to slash interest rates on home and education loans. The lending rates will be slashed by 25 to 50 basis points (bps).

In the case of home loans, the new rates will be applicable for advances up to Rs. 30 lakh, which is in line with RBI's decision to reduce the risk weight to 50 per cent on home loans up to Rs. 30 lakh.

The current home loan floating interest rates are between 9.75 per cent and 11.75 per cent, depending upon the term and the amount of the loan. The interest rates on education loans are between 11.25 per cent and 11.75 per cent.