UCO may cut homeloan rates

Public sector lender UCO Bank has said it may cut down home loan rates by 50 basis points. “We have already cut down home loan rates by 50 basis points and may further cut down the rates by another 50 basis points,” UCO Bank chairman and managing director S K Goel said. The final desicion on the lowering of interest rates by UCO bank shall be taken in its board meeting on March 15.