Dena Bank reduces home loan interest rates – Passes on benefit of RBI’s Risk Weight Reduction


By K Ashwin Mobile:00919920183006

Dena Bank reduces interest rates on home loans above Rs 30.00 Lakh to Rs 75 Lakh by 5 basis points and for loans above Rs 75 Lakh by 10 basis points w.e.f 15.06.2017. Interest of Dena Bank on home loans sanctioned on or after 15.06.2017 is as under:

For loans up to Rs 75 Lakhs

MCLR i.e.8.60 % p.a.

For loans above Rs 75 Lakhs

MCLR + 0.10 i.e. 8.70 % p.a.

About Dena Bank 

Dena Bank was founded on May 26, 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd. It became a Public Ltd. Company in December 1939 and later the name was changed to Dena Bank Ltd. Dena Bank is amongst the first nationalised banks to enter equity market in November 1996.  It offers the entire gamut of banking services including Retail Banking, Corporate Banking, International Banking, Services, Priority & SME Banking amongst others.

The Bank is the first public sector bank to introduce Tele-Banking facilities for its customers at selected metropolitan centers. Dena Bank offers minor savings scheme, credit card in rural India and customer rating system for rating the bank services. Dena Bank is having 1,846 branches, 1500+ ATMs, and business mix of more than 2 lack crores. Being in the forefront for financial inclusion, Dena Bank is having 60% of its branches in rural and semi-urban regions.  It is also ranked first for maximum Aadhaar enrollments under the Pradhan Mantri Jan Dhan Yojana.

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