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UBI slashes interest rates

By Our Special Correspondent

THIRUVANANTHAPURAM, FEB.5. The Union Bank of India has slashed the interest on housing loans again this time with effect from February 1. The new rates are 7.75 per cent for loans up to five years, 8.25 per cent for loans for over five years but up to ten years and 8.5 per cent for loans over ten years.

In cases of fixed rates of interest, the rates will be 8, 8.5 and 8.75 respectively.

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