Bank of India makes home-auto loans cheaper in the festive season, know how much EMI will be reduced
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BOI cuts home and car loan: In the festive season, if you are also planning to take a house or a car, then this is good news for you. Bank of India has cut interest rates on home loan and car loan. Now you will get cheaper loan than before. Let us tell you that the new rates of the bank will be applicable from 18 October to 31 December 2021. The benefit of these new rates will be given to loan transferees and customers taking new loans.
BoI tweeted
The bank has also given information about this by tweeting. The bank has written in the tweet that now happiness will be double! The bank is offering home loan to the customers at the rate of 6.5 percent. Apart from this, interest will have to be paid at the rate of 6.8 percent for Star Vehicle Loan. Along with this, the processing fee will be nil.
0.50 percent cut
Let us tell you that the bank has cut the interest rate on home loan by 0.35 percent. Apart from this, the interest rate on vehicle loans has been cut by 0.50 percent. If you take a loan after October 18, then you will have to pay EMI according to the reduced interest rate.
Home loan will be available at the rate of 6.50 percent
According to the statement issued by the bank, after this deduction, the home loan rate of BOI will start from 6.50 percent. Let us tell you that earlier the bank’s home loan rates were starting from 6.85 percent. At the same time, the interest rates of the bank’s vehicle loan have come down from 7.35 percent to 6.85 percent.
Processing fee will not have to be paid till December 31
Along with this, the processing fee on home and car loans has also been reduced to zero by the bank to the customers till December 31, 2021. That is, the customers taking the loan will not have to pay any kind of processing fee.
Know how much will be the EMI
Let us tell you that the bank has also shared the photo in the tweet, in which it is written that the EMI of your house will start from Rs 632 per lakh. Apart from this, the EMI of the vehicle loan of the customers will start from Rs 1502 per lakh.
Also find out about loans through SMS and missed calls
Apart from this, you can give a missed call to this number 8010968305 for more information about the loan. Along with this, you can also find out about the home loan through SMS. For this you have to write
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