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Bank of Maharashtra (BoM) has waived the processing fee for gold, housing and car loans.
Besides, as part of its special offer for its retail customers during this festival season, the Pune-based public sector bank, in a statement, said it will offer housing loan and car loan at a rate of interest (RoI) starting from 7.05 per cent and 7.70 per cent, respectively.
Also read Bank of Maharashtra banks on customer ‘Ghar Wapsi’ to grow loan book
In addition, the bank has launched a special drive to take over loan against property and housing loan with extended repayment term up to 10 years and 30 years, respectively, for existing customers.
BoM has revamped its gold loan scheme, offering loans up to ₹20 lakh with zero processing fee at a RoI of 7.50 per cent.
The bank has introduced ‘Gold Loan Point’, a dedicated counter at its select branches to facilitate gold loan within 15 minutes.
Referring to the economic activities opening up, Hemant Tamta, Executive Director, BoM, said the hassle-free sanctioning of gold loan at the bank’s branches will benefit customers as they can overcome liquidity mismatches and meet their immediate financial needs.
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