The Bank of India has announced some good news about home loans. They’ve made it cheaper! Now, instead of paying 8.45 percent interest, you’ll only pay 8.3 percent. Plus, they’re not charging any processing fees anymore.
BOI says their home loans are the cheapest around, even cheaper than SBI and HDFC Bank. Those banks start at 8.4 percent. This deal is available until March 31.
They’ve also got a special deal if you want to install solar panels on your roof. You can get a loan for that at just 7 percent interest and no processing fees.
With the new rate of 8.3 percent, if you take a loan for 30 years, your monthly payment for every lakh rupees borrowed will be Rs 755.
And there’s more! The bank is offering an overdraft facility along with the loan, which means you have extra flexibility with your finances.
