Dena Bank announced today to offer home loan at 8.25 percent cheaper than State Bank of India (SBI) bank in terms of loan rate offered by any player. SBI in early November announced to give home loans at 8.3% was the only bank to offer the lowest rate.
The ‘Dena Retail Loan Carnival’ offer will be valid from November 16, 2017, to December 31, 2017. The range of loan rates is 8.25 percent – 9 percent.
The carnival is being launched to promote housing and vehicle loans, according to the bank.
The rate of a car loan is at 9 percent per annum and home loans up to Rs 75 lakh at 8.25 percent per annum.
However, women borrowers will be offered car loans at 8.90 percent.
It will not charge any processing or documentation fee on the loans that will be processed during the carnival, according to Dena Bank.
Customers can contact any branch of Dena Bank for availing the loans, it said in a statement.