Federal Bank to decide rate cut

Private sector lender Federal Bank will decide on a cut in interest rates on retail loans next week. The move will be decided after meeting of their ALCO committee. The Kochi-based bank has announced that it will offer home loans at its base rate of 10.45% from October 3 to October 18 as part of the 67th anniversary celebrations. Earlier, the minimum rate of interest on home loans was 10.78%.