Bank of Maharashtra Home Loan Rate: Bank of Maharashtra has given a gift to the customers in the New Year. Bank of Maharashtra (BOM) has reduced its home loan rate by 15 basis points i.e. 0.15 percent. The bank is giving home loan at the rate of 8.35 percent. The bank has also waived off the processing fee on home loan.
Bank of Maharashtra Home Loan Rate: Bank of Maharashtra has given a gift to the customers in the New Year. Bank of Maharashtra (BOM) has reduced its home loan rate by 15 basis points i.e. 0.15 percent. The bank is giving home loan at the rate of 8.35 percent. The bank has also waived off the processing fees on home loans. The double benefit of low interest rates and exemption in processing fees in home loans will attract more and more customers.
The bank said in a statement that the current high interest rate is making retail loans cheaper to bring happiness among the bank customers. By introducing this offer, Government Bank is offering one of the lowest interest rates in the banking industry for home loans. The statement further said that the bank has already waived off processing fees for home, car and retail gold loans under its ‘New Year Dhamaka Offer’.
The bank saw its business grow 18.92 per cent year-on-year to Rs 4.34 lakh crore for the quarter ending December 31, 2023, according to an update filed with the markets on January 2 regarding business. This development came after a 17.9 per cent rise in bank deposits, which totaled Rs 2.46 lakh crore. The increase can also be attributed to a 20.3 per cent increase in gross advances, taking the total value to Rs 1.89 lakh crore.
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