Bank of India Home Loan Interest Rate: Public sector Bank of India (BOI) on Tuesday announced reducing the interest rate on new home loans by 0.15 percent from 8.45 percent to 8.3 percent.
If you want to fulfill your dream of owning a house on the festival of Holi, then there is good news for you. You can take advantage of cheap loan offers from government banks now. Public sector Bank of India (BOI) on Tuesday announced reducing the interest rate on new home loans by 0.15 percent from 8.45 percent to 8.3 percent. This limited period scheme will remain in effect till the end of this month i.e. till 31st March. There will be no processing fee of any kind in this.
Bank claims cheapest home loan
The bank claimed that the interest rate of 8.3 percent is the lowest rate in its category among its competitors. The bank said that the minimum rate in leading banks like State Bank of India (SBI) and HDFC Bank is 8.4 percent. This offer is only till 31st March.
You can see the bank rates below
Offer for solar panel also
The bank said that it is providing special loan facility at an interest rate of seven percent for rooftop solar plants. In this also the processing fee has been waived. The bank said that after the interest rate cut, the monthly installment (EMI) on 30 year home loan will be Rs 755 per month.
