Mumbai: Immediately after being cut by Bank State Bank of India (SBI), other public sector lenders Punjab National Bank (PNB) and Bank of Baroda (BOB) have also revised their home loan rates under the festival offer.
While PNB home loans began at 6.6%, for Bank Baroda was 6.75%.
PNB has cut interest rates of home loans above RS 50 Lakh by 50 basis points (100bps = 1 percentage of points).
The bank will offer home loans related to credit scores ranging from 6.6% regardless of the ceiling limit for anything.
This tariff applies to balancing transfer cases and is the lowest among public sector banks.
PNB has offered a full neglect of service fees and processing costs on most personal loans under the bonanza festival offer.
Bank car loans start from 7.15% and personal loans to the public from 8.95%.
Bank Baroda offers a neglect of 0.25% at a rate that applies to home and car loans throughout the board.
In addition, lenders offer neglect of processing costs in home loans.
Following reduction, home loan interest rates start at 6.75% and car loan interest rates at 7%.