If you’re dreaming of buying a house next year, getting a loan from a government bank can make it easier.
The Bank of Maharashtra (BOM) has made it more affordable by reducing the home loan interest rate to 8.35%, a decrease of 0.15 percent.
This reduction is part of a New Year offer for customers.
The bank has also lowered the processing fee for home loans. This means you not only pay less in interest but also save on the fees for processing the loan.
The Bank of Maharashtra is committed to providing better financing solutions, and this offer aims to help customers meet their housing needs.
Despite the current high-interest situation, the bank is working to make home loans more affordable for customers.
If you’re wondering about the interest rate for the bank’s home loan, it’s currently at 8.35%. Additionally, women and defense employees can enjoy a further 0.05% discount.
The loan tenure can go up to 30 years, and individuals up to the age of 75 years can apply for the loan.
According to the bank’s official website, Bank of Maharashtra is claiming to offer the lowest interest rates on home loans in India.
