Mumbai: Bank of
Punjab has cut the interest rates on home loans by 0.5 to 1.5 per
cent. It has also offered special festival schemes, including no
processing fees and no guarantor for salaried class, till
31 December.
The
monthly interest rates have come down to 2.15 per cent for five
years, 1.44 per cent for 10 years, 1.21 per cent for 15 years and
1.09 per cent for 25 years. The bank does not charge for
prepayment and also offers a comprehensive insurance coverage at a
nominal premium.
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