Before the festive season, Bank of Maharashtra has given a gift to the customers. The bank has decided to do away with processing fee charges on gold, housing, car and gold loans. It is clear that if you want to take a loan from Bank of Maharashtra, then you will not have to pay any charge i.e. you will save thousands of rupees.
Bank abolished processing fee
When you take a loan, there are many expenses associated with it. This includes payment of interest, processing fees, administrative charges, prepayment penalties, among other things. The bank has waived processing charges to provide more benefits to the customers during the festive season.
This offer is applicable till 30 September 2021.
At what rate will you get bank loan
In the statement issued by the bank, it has been said that the home loan can be taken at an interest rate of 6.90 percent. At the same time, the interest rates for car loans have been fixed at 7.30 percent.
The bank says that changes have been made in the gold loan scheme. The interest rates for gold loans up to Rs 20 lakh are 7.10 per cent. At the same time, the processing fee for gold loans up to Rs 1 lakh has been reduced to zero.
Getting these offers
In the press release issued by the bank, it has been told that those paying regular EMI of home loan are also getting a discount of two EMI free. Apart from this, for closure charges will also not have to be paid.
If you had taken a car loan of Rs 5 lakh two years ago and now you want to reduce your loan tenure or monthly installment amount by paying a lump sum amount of Rs 1 lakh to the lending bank, then it is called prepayment.
In the process of for closure or repaying the loan within the stipulated period, you return the entire outstanding amount of the loan to the bank. Huh.
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