If you aspire to fulfill your dream of owning a home this festive season of Holi, here’s good news for you. You can now benefit from the offer of affordable loans from government banks. Bank of India (BOI), a public sector bank, announced on Tuesday a reduction in the interest rate on new Home Loans from 8.45% to 8.3%. This limited period offer will be valid until the end of this month, i.e., March 31. No processing fee will be charged under this scheme.
Bank Claims Cheapest Home Loan
The bank claims that the 8.3% interest rate is the lowest in this category among its competitors. It stated that leading banks like State Bank of India (SBI) and HDFC Bank offer a minimum rate of 8.4%. This offer is only valid until March 31.
Offer Also Available for Solar Panels
The bank also announced a special loan facility at a seven percent interest rate for solar power plants installed on rooftops. Processing fees for this are also waived off. The bank mentioned that after the interest rate cut, the monthly installment (EMI) on a 30-year home loan will be Rs. 755.
You can check the bank’s rates below:
