The state-run home and vehicle on Sunday announced a cut in its interest rates. Loan 35 basis points and 50 basis points respectively.

With this cut, Rate of interest Starting from 6.50 per cent on home loans and 6.85 per cent on vehicle loans as against 7.35 per cent earlier, the bank said in a release.

This special rate, which is effective from October 18, 2021 to December 31, 2021, is also available to customers applying for fresh loans and those seeking transfer of loans.

The lender said it has also waived processing fee for both home and vehicle loans till December 31, 2021.