bank of india cuts home loan and car loan rates – Business News India

In this festive season, many banks including State Bank of India, Bank of Baroda have gifted their customers by reducing the rates of home loans and car loans. On Sunday, Bank of India has announced a discount on car loan and home. That is, now the customers of BOI will get cheaper home loan and vehicle loan.

How much interest rates have been cut

According to the information given by Bank of India, the bank has cut 35 basis points on home loan and 50 basis points on car loan. After this deduction, now the customers of BOI will get home loan at 6.50%, earlier it was 6.85%. At the same time, the new interest rate for vehicle loans has come down from 7.35% to 6.85 percent.

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How long will this offer last

These new rates of Bank of India will be applicable from Monday, October 18. Customers will be able to take advantage of this deduction till December 31. Apart from this, the processing fee on home loan and vehicle loan will also not be charged by the bank till December 31. That is, no processing fee will have to be paid from Monday.

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You will be able to take advantage of this offer sitting at home

According to the information given by the bank, the initial EMI on the vehicle loan will be Rs 1502. At the same time, an initial EMI of Rs 632 will have to be paid on the home loan. Bank of India customers can take advantage of this special offer sitting at home. for home loan By writing 7669300024 and for Car Loan (Vehicle Loan) SMS to 766930024 by writing. Customers can also avail special offers through missed call on 8010968305.