Monsoon Dhamaka! This bank waives entire processing charges on home loans, check latest interest rate

State-owned Bank of Maharashtra (BoM) on Friday announced a monsoon offer, waiving the full processing fee on its housing and car loans.

Under 'Retail Bonanza-Monsoon Dhamaka' starting August 1, a slew of special offers for its retail customers is being launched amid the festive season.

The bank offers housing and car loan with rates starting from 7.30 per cent and 7.70 per cent, respectively.

The retail products are backed by several features like three free EMIs on regular repayment in housing loans, loan facility up to 90 per cent in the car and housing loans, no pre-payment / pre-closure / part payment Charges etc, BoM said in a statement.

The bank is also facilitating hassle-free gold loans up to Rs 25 lakh at a 7.70 per cent rate with zero processing fees up to Rs 3 lakh, it added.

It has set up 'Gold Loan Point' - a dedicated counter in its various branches to facilitate the loan within 15 minutes.

The bank is offering one of the most lucrative pricing to retail customers and 'Retail Bonanza- Monsoon Dhamaka' offers customers save more money to enjoy the festive season, BoM managing director AS Rajeev said.