Syndicate Bank has announced interest concession on loans taken by Tsunami affected people. According to a press release, the interest rate on housing loan from them will be lowered by one per cent. The interest rate on all other priority sector advances availed by them including loans for agriculture, fishery, acquisition of boats, small business, retail trade will be reduced by two per cent. These rates will be applicable for the existing and the fresh loans. The bank has contributed Rs.2.5 crores to the Prime Minister's Relief Fund for rehabilitation of tsunami victims.
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