Bank of India reduces home, vehicle loan rates

As a part of festive offers, Bank of India has announced a 35 basis point reduction in its home loan interest rates and a 50 basis points in vehicle loan interest rates.

With the cut, the minimum rate on these loans now starts at 6.5 per cent against 6.85 per cent on home loans and 6.85 per cent against 7.35 per cent earlier on vehicle loans.

This special rate will be effective from October 18 till December 31. It will be available for customers applying for fresh loans and also for those seeking transfer of loans.

The bank has also waived processing charges for both types of loans till the period of the offer to make it more attractive for customers.