Bank of India slashes home, vehicle loan rates
With this cut, the interest rate on home loans starts at 6.50 per cent against earlier 6.85 per cent, and at 6.85 per cent against 7.35 per cent prior on vehicle loans, the bank said in a release.
- Oct 17, 2021,
- Updated Oct 17, 2021 4:25 PM IST
State-run Bank of India on Sunday announced a cut in its interest rates on home and vehicle loans by 35 basis point and 50 basis points, respectively.
With this cut, the interest rate on home loans starts at 6.50 per cent against earlier 6.85 per cent, and at 6.85 per cent against 7.35 per cent prior on vehicle loans, the bank said in a release.
This special rate, which is effective from October 18, 2021, till December 31, 2021, is available for customers applying for fresh loans and also for those seeking transfer of loans, it said.
The lender said it has also waived processing charges for both home and vehicle loans till December 31, 2021.
Also Read: NTPC REL inks first green term loan pact of Rs 500 cr with Bank of India
Also Read: HDFC Bank Q2 net profit jumps 18% to Rs 9,096 crore
State-run Bank of India on Sunday announced a cut in its interest rates on home and vehicle loans by 35 basis point and 50 basis points, respectively.
With this cut, the interest rate on home loans starts at 6.50 per cent against earlier 6.85 per cent, and at 6.85 per cent against 7.35 per cent prior on vehicle loans, the bank said in a release.
This special rate, which is effective from October 18, 2021, till December 31, 2021, is available for customers applying for fresh loans and also for those seeking transfer of loans, it said.
The lender said it has also waived processing charges for both home and vehicle loans till December 31, 2021.
Also Read: NTPC REL inks first green term loan pact of Rs 500 cr with Bank of India
Also Read: HDFC Bank Q2 net profit jumps 18% to Rs 9,096 crore