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Mumbai:
Bank of Rajasthan (BoR) has introduced a new housing and car
finance scheme Gaadi-Bangla. It offers a maximum loan of Rs 20
lakh towards housing and a maximum of Rs 3 lakh for repairs and
renovation, said a press release.
 The bank will charge a
12.75-per cent interest for an amount of Rs 10 lakh for eight
years. On amounts of more than Rs 10 lakh, the interest rate will
be 13 per cent for a period of eight years and 12.50 per cent for
eight years and above.
The car finance scheme
will offer a maximum loan of Rs 5 lakh. The rate of interest
will be 14 per cent for a loan up to Rs
3 lakh and
15 per cent for a loan above Rs 3 lakh. Both the schemes
will run on a daily-reducing-balance basis, the release
said.
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