Bank of India reduced the interest rate on home loans by 0.15 percent till March 31.
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This limited period scheme will remain in force till the end of this month i.e. till 31st March. There will be no processing fee of any kind in this. The bank claimed that the interest rate of 8.3 per cent is the lowest in its category among its rivals.
Mumbai Public sector Bank of India (BOI) on Tuesday announced reducing the interest rate on new home loans by 0.15 per cent to 8.3 per cent from 8.45 per cent. This limited period scheme will remain in force till the end of this month i.e. till 31st March. There will be no processing fee of any kind in this. The bank claimed that the interest rate of 8.3 per cent is the lowest in its category among its rivals.
The bank said that the lowest rate in leading banks like State Bank of India (SBI) and HDFC Bank is 8.4 percent. This offer is only till 31st March. The bank said that it is providing special loan facility at an interest rate of seven percent for rooftop solar plants. In this also the processing fee has been waived. The bank said that after the interest rate cut, the monthly installment (EMI) on a 30-year home loan will be Rs 755 per lakh.
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