Comments
Union Bank of India (UBI) has decided to cut the interest rate on home loans above Rs.30 lakh by 10 basis points (bps) with effect from November 1, 2020.
The public sector bank, in a statement, said women home loan borrowers will get a further concession of 5 bps in rate of interest over and above the aforementioned reduction in interest rate. One basis point is equal to one-hundredth of a percentage point.
There will be zero processing charges for home loans till December 31, 2020, the bank added.
In addition, UBI has waived legal and valuation charges upto Rs.10,000 in case of take over of home loans by it.
UBI said there are no processing charges for car and educational loans.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.