IDBI Bank has slashed interest rates by 50 basis points across the board for all existing and new customers with effect from November 1. The revised home loan rate will be 11 per cent. The bank has also revised the margin on home loans up to Rs 30 lakh, to 20 per cent. For home loans above Rs 30 lakh, the margin is 25 per cent.
Tata MF revises load structure
Tata Mutual Fund has revised load structure for Tata Select Equity Fund and Tata Pure Equity Fund with effect from November 1, 2008. The fund house will now charge an exit load of one per cent for investments of less than Rs 2 crore, in case of redemption within six months. On the entry load front, investments up to Rs 2 crore will now attract a charge of 2.25 per cent. The changes are applicable for all investments, except for SIP and STP.
Reliance MF: no SIP in gold ETF
Reliance Mutual Fund has decided to withdraw the facility of systematic investment plan (SIP) in Reliance Gold exchange traded fund (ETF) with immediate effect, i.e., from October 31.
JM Financial MF revises loads
JM Financial Mutual Fund has waived the exit load on JM Money Manager Fund-Super Plus plan. The changes have come into effect from October 31.