Bank of Maharashtra waives processing fee on home and vehicle loans till Dec 2017
The Bank also offers zero processing fees when someone transfers a home loan from another bank during this festive offer period.
These concessions are offered to enhance Bank’s retail portfolio during the ensuing festival season.
The Bank recorded Q-o-Q stable growth in their home loan segment, while the Vehicle loan segment saw growth of 28.22% in Q1 FY 17-18 compared to the quarter ending March, 2017.
Personal vehicles contribute to the majority of the vehicle loan portfolio of Bank of Maharashtra.
The growth in the home loan portfolio was partially led by the Bank’s efforts towards strengthening the government initiatives to provide Housing for All by 2022 through the Pradhan Mantri Awas Yojana scheme.
Under PMAY CLSS scheme more than 1400 accounts are covered with total portfolio of Rs. 221 crores. Bank of Maharashtra was the first public sector bank to reduce its lending rates by 5-15 basis points (bps) across loan tenures, following the 25 bps repo rate cut by Reserve Bank of India in its bi-monthly Monetary Policy announced on 02.08.2017.
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