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State Bank of Travancore's festival offer
THIRUVANANTHAPURAM: State Bank of Travancore has announced a reduction in interest rates on home and vehicle loans sanctioned between October 29 and November 30, in connection with the Deepavali festival season. The interest rate on home loans sanctioned during the period will be 7.25 per cent, floating, for tenures between 5 and 20 years. Car loans having a repayment tenure of 35 months will carry 8 per cent interest and those for longer tenures 8.5 per cent. The festival concession for car loans is a one-per-cent reduction in interest. The interest on two-wheeler loans also will be one per cent lower than the normal rate. The rate during the period will be 10.5 per cent, the bank said in a release. — Our Special Correspondent
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