Public sector lender Dena Bank has announced a festival offer for its customers. In the time when loan rates are on a northward move all over, the bank has announced a rate cut in home and car loans.

Interest rates of home loans as well as car loans have been slashed by as much as 25 bps only for floating rate loans.

Previously a 25 bps decline was already announced by the lender in the same segments of loans. So with the new set of rate cut, the overall interest rates of home and car loans stand reduced by as much as 50 bps.

The offer will be valid till end of this year, that is December 31, 2011.

Also processing fees for these loans will see a 50 bps cut too for the same period.