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SBI reduces rates on retail loans

CHENNAI: State Bank of India has reduced the interest rates on all new home loans, car loans, two-wheeler and personal loans. The home loans are now lower by 0.50 – 1 percentage point depending on loan maturities and the amount of loan. The car loans and two wheeler loans have been reduced by one percentage point. The proposed rates are applicable for all new loans sanctioned on or after October 8 and valid up to December 31. — Corporate Reporter

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