BOI Home Loan Interest Rate: Public sector Bank of India (BOI) on Tuesday announced a cut in interest rates on new home loans. According to the information given by the bank, the initial interest rate on home loan in Bank of India has been reduced by 0.15 percent and after that it has come down to 8.30 percent.
You can avail the benefits till 31st March
It has been told by the bank that the cut in interest rates is for a limited period. Customers can take advantage of this offer of the bank by taking home loan till 31st March. The special thing about this offer of Bank of India is that if a customer takes a home loan during this period, he will not have to pay even the processing fee. In such a situation, after the interest rate cut, the monthly installment (EMI) on a 30 year home loan will be Rs 755 per month.
Lowest interest rate in all banks
The bank said that at present the interest rate on home loan of 8.3 percent is the lowest rate in this category among its competitors. The minimum interest rate on home loans in leading banks like State Bank of India (SBI) and HDFC Bank is 8.4 percent.
Loan also for PM Surya Ghar free electricity scheme
Bank of India has also given loan at affordable interest rate for PM Surya Ghar Free Electricity Scheme. If a customer applies for a loan under this scheme, he will be given a loan at an interest rate of 7 percent.
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