Public sector lender Bank of India has announced to reduce the interest charged on home loans today i.e. on Tuesday. Bank of India has reduced the interest rate on home loans from 8.45 percent to 8.3 percent.
Apart from this, the processing fee has also been completely waived by the bank. Come, let us know about the complete news.
BOI will give the cheapest home loan
The bank claimed that at 8.3 percent, it is the lowest rate among its peers. The lowest rates from SBI and HDFC Bank, the industry leaders, start at 8.4 percent. It says that this offer is valid till March 31.
Special offer for solar panels
The bank also said it is offering special financing for rooftop solar panels at a 7 percent interest rate and no processing fees. At 8.3 percent, the starting EMI for a home loan with a tenure of 30 years will be Rs 755 per lakh per month.
Additionally, the loan package from the Bank has been further enhanced with an overdraft facility, providing a flexible and comprehensive financial assistance system to home buyers.
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