BANK OF INDIA

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BANKING

BANK OF INDIA –  new rates on home loans - 10.50% upto Rs.30 lacs


Oct 19, 2012

Bank of India is extending reduced interest rates on new home loans, vehicle loans and secured personal   loans contracted during the festive period  till 31.12.2012.
The reduction varies from 0.15 to 0.50% on new home loans , 1.30% for new vehicle loans, 1% for new second hand vehicle loans and 1% on secured personal loans.
The new rates on home loans will be 10.50% for limit upto Rs.30 lacs, 10.60% for loan over Rs.30 lacsto  less than Rs.75 lacs and 10.75% for loan of Rs.75 lacs and above . In vehicle loans the new rates will be 10.95% for new vehicles  and 11.75% for second hand vehicles. In secured personal loans the new rate will be 13.50%.
Bank has also reduced  processing charge in home loans and vehicle loans. Concession of 75% in processing  charge is offered  for  home loan upto Rs.25 lacs  and concession of 50% is offered for home  loan over Rs.25 lacs. Similarly , 50% concession in processing charge is offered on Vehicle Loan.”
 Contact author :  newsmedia@rediffmail.com

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