Dena Bank Reduces interest rate by 0.75 percent on its housing finance lending scheme under floating category in a response to the revised BPLR, which is now 12.75 percent. The bank has also brought changes in its fixed rate of interest effective for loans taken during 16.12.08 and 30.06.09.
For home loans upto Rs five lakh for a maximum repayment period of 20 years, the fixed rate of interest is now 8.50 percent p.a. for the first five years. After this period, the borrowers have option to switch over to floating rate of interest without paying anything extra. For the same repayment period, a loan between Rs five lakh and 20 lakh would carry an interest rate of 9.25 percent, whereas for loan above Rs 20 lakh, this would be 10.50 percent. | 
