BOM Festival Offer: No Processing Fees on Home, Gold & Car Loans

Good news for borrowers. After SBI, HDFC & ICICI Bank, Bank of Maharashtra has also announced festival offers for customers. The state owned BOM has waived off processing fee For Home Loans, Gold Loans and Car Loans and also launched an attractive deal for Loan Against Property.

The BOM’s official press statement that was released on Wednesday said: To bring in cheer and joy amid the pandemic, BoM presents a slew of special offers for its retail customers during this festive season.”

In its latest offer, the Bank Of Maharashtra Housing Loan starts at 7.05 per cent and BOM Car Loan starts at 7.70 per cent respectively. Likewise, the lender has also announced a great offer for Gold Loan customers. Now one can avail Gold Loan up to Rs 20 lakh at no processing fee. The rate of interest is starting at 7.50 per cent. The bank has made special arrangement for fast Gold Loans across its branches.

The MOM has also introduced ”Gold Loan Point” which will serve as a dedicated counter in some of its branches to facilitate Gold Loan within 15 minutes. The bank said with Gold Loan scheme one can tide over their immediate financial needs at much ease.

The bank further added these festival offers are designed to ease liquidity mismatch of customers struggling due to Pandemic.