Festive offer: Axis, Dena Bank drop home loan rates

Axis Bank and Dena Bank have reduced interest rates on home loans in the run-up to the festival season. Dena Bank is offering a 50 basis-point reduction in interest rates for all tenors and slabs as part of its ‘Festival Bonanza’. The reduced rates would be applicable on fresh housing loans in both the fixed and floating interest categories sanctioned from October 10 till December 31, said. The new interest rates range from 9.25 per cent to 10.5 per cent in the floating rate category and 9.75 per cent to 11 per cent in the fixed rate category depending on loan amount and tenor. Axis Bank has reduced its floating rates by 50 basis points. The new floating rate will now stand at 10.5 per cent.