Bank of Maharashtra launches Retail Bonanza-Monsoon Dhamaka

Our Bureau Mumbai | Updated on August 05, 2021

Waives processing fees on gold, housing and car loans among other offers

Bank of Maharashtra (BoM) has waived processing fees on its gold, housing and car loans till 30 September, 2021, under its ‘Retail Bonanza-Monsoon Dhamaka’ offer.

The Pune-heaquartered public sector bank said in a statement that it is offering home loans and car loans at interest rates starting from 6.90 per cent and 7.30 per cent respectively.

Retail loans have features such as two free Equated Monthly Installments on regular repayment of home loans, loan facility up to 90 per cent in the case of home and car loans, and no pre-payment / pre-closure / part payment charges, the statement added.

The bank also revamped its gold loan scheme, whereby customers can get loans up to ₹20 lakh at 7.10 per cent interest. Further, there is no processing fee for gold loans up to ₹1 lakh.

BoM said it has set up ‘Gold Loan Points’, dedicated counters in select branches, to facilitate gold loans within 15 minutes.

Hemant Tamta, Executive Director, Bank of Maharashtra, said customers will benefit from lower rates and waiver of processing fee under the Dhamaka offer this festive season.

Published on August 05, 2021

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