OREANDA-NEWS. February 20, 2012. Central Bank of India, a leading Public Sector Bank having a pan Indian presence through its 4000 branches across the country, has been a leading player in the Retail Loan market, especially in the Housing Loan Segment. After having offered a very attractive Festive Offer to its Retail Customers, the bank has also waived Pre Payment Penalty and allowed elongation of repayment schedule without increasing monthly installments as a special gesture to its housing loan customers.

The Bank has now, as a salute to its over 3.5 crore customer base which has shown un wavering loyalty to the Bank for more than hundred years, has further reduced interest on housing loans making this product most competitive in the market. The reduced rates for housing loans up to Rs. 30 lacs, up to Rs.75 lacs and above Rs.75 lacs would now be 10.75%, 11% and 11.25% respectively. These rates will be effective from 20.02.2012 to 31.03.2012. No processing fees will be charged on these loans. The Banks wants to become market leader in the housing loan segment with this reduction in interest rate.