Bank of India launches festive offer; waives loan processing charges1 min read . Updated: 08 Sep 2019, 02:52 PM IST
- Home loan of up to ₹30 lakh would be available at 8.35%
- The bank has also launched an SME welcome offer
New Delhi: State-owned Bank of India (BoI) under its festive offer for retail products is offering home loans at concessional interest rate with no processing charges to woo customers.
The bank has waived loan processing charges and will provide home loan at concessional rates, BoI general manager Salil Kumar Swain said.
Home loan of up to ₹30 lakh would be available at 8.35% while loan above ₹30 lakh would be linked to repo rate, he said.
At the same time, the bank offering education loan at competitive rate, he added.
The bank has also launched an SME welcome offer, he said, adding, loans between ₹50 and ₹5 crore would be available at concessional rate depending on value of security.
Last month, the country's largest lender State Bank of India (SBI) announced a number of offers including cheaper rates for home and auto loan borrowers, to cash in on festival fervour.
Customers can avail cheaper loans with added benefits such as waiver in processing fees, pre-approved digital loans and loans with no escalation in interest rates spread across various categories, SBI had said.
This story has been published from a wire agency feed without modifications to the text.