New Delhi. It is the dream of every man to have his own house. If you too are planning to take a home loan to buy a house, then now is a great opportunity for you. Actually, Bank of Maharashtra ie BoM (Bank of Maharashtra) has cut the interest rates on home loans. The new rates of the bank will be effective from December 13.
Bank of Maharashtra has announced reduction of interest rates on home loans to 6.40 per cent, which is its all-time low. At present the bank is giving home loan at 6.80 percent interest. The bank has also reduced the interest rates on car loans from 7.05 percent to 6.80 percent in view of market competition.
The reduction in interest rates has been done under the Retail Bonanza Festive Dhamaka offer. Bank’s Managing Director AS Rajeev said that this offer will help customers save more on their loans.
Good news for SBI customers, home top-up loan will be available at affordable interest rates
It is worth noting that the country’s largest government bank SBI i.e. State Bank of India (SBI) has come up with a special offer on the top-up loan of its home loan. The bank has decided not to charge any processing fee apart from giving a discount of 0.25 per cent on the interest rate of the top-up loan. Top-up home loans can be used for children’s education, daughter’s wedding or even for purchase of additional property. Along with the loan repayment, the monthly installments of the top-up loan also have to be paid.
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