Canara Bank launches retail loan festival

Canara Bank has launched a 5 month long retail loan festival for home loans and vehicle loans from Sept.1 to Jan 31,2011.The Bank has come up with special interest rates for home loans & vehicle loans. According to a press release from the bank, housing loans upto Rs 30 lakh would be available at an interest rate of about 8.50% an annum, and there would be an interest concession of 0.5% an annum for all slabs upto Rs 1 crore.The Bank also announced a waiver of processing charges upto 75%. Home improvement loans would also be offered at home loan interest rates during the offer period. Vehicle loans are offered at 10% an annum, with nominal processing charges.(BL 08092010)