This bank offers lowest interest rates on home, car loans. Check details

 As part of its 'Retail Bonanza-Festive Dhamaka' deal, state-owned lender Bank of Maharashtra (BoM) reduced its home loan interest rate to an all-time low of 6.40 percent, down from 6.80 percent previously.

Previously, Union Bank of India was the only lender in the country to offer home loans at a rate of 6.40 percent. However, with its most recent interest rate cut, BoM has risen to the top of the list of lenders offering the best home loan rates.

To entice more retail borrowers, the bank has also lowered the interest rate on car loans to a new low of 6.80 percent from 7.05 percent. The above-mentioned rates, however, will not be available to all, according to the BoM. According to the lender, the 'Retail Bonanza-Festive Dhamaka' offer is based on the borrower's credit score.

The increased rates go into effect tomorrow (December 13), according to the public sector lender.

It's worth noting that the Bank of Malaysia has already waived the processing cost on its gold, house, and vehicle loans.

In a statement, BoM Managing Director A S Rajeev said, "We hope that the 'Retail Bonanza-Festive Dhamaka' offerings would help consumers save more on their loans and add cheer to their life."

According to BoM Executive Director Hemant Tamta, the bank is offering one of the industry's lowest interest rates on retail loans, particularly for home and vehicle loans.

Conclusion

There's no need to be discouraged if your personal loan application is turned down. To boost your chances of loan approval, simply work on improving your credit report and following the methods outlined above. Once you've completed this checklist, you're ready to submit your personal loan application.To find about the best pricing and deals, call our toll-free number +91-9477079053. They'll help you in every way they can. Please contact me at Best Home Loan In India if you have any more.


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