Indian Bank offers numerous types of loans. Home loan is a supreme one among them. Home loans are in case,granted both for Indians and Non-Residential Indians. They provide loan for purchasing plots, flats and building purpose. They provide two distinct types of interest. They are floating and fixed rate. Usually, fixed rate is the good choice. Since it does not change, they are reliable. The rate of interest depends on varied factors. Some of them are term period and loan type. Each type of loan has distinct rates. 8.00% is the base rate. 12.50% is the Benchmark Prime Lending rate. Rates for distinct ranges of loan number are listed below here. The below mentioned rates are new ones. It was announced on 1.07.2010 only.
The rate of interest for number less than 20 lakhs is mentioned below:
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Term period - Interest
0-5 yrs - 9.00%
5- 10 yrs - 9.25%
10-15 yrs - 9.50%
15-20 yrs - 9.75%
