The state-owned Bank of Maharashtra (BoM) on Friday, July 29, launched a monsoon offer that waived the entire processing charge for its home and auto loans.

Beginning August 1, a plethora of exclusive deals are being introduced for its retail clients over the holiday season under the name "Retail Bonanza-Monsoon Dhamaka." The bank offers home and auto loans with rates beginning at 7.30 percent and 7.70 percent, respectively. The retail products are supported by a number of advantages, such as three free EMIs on timely repayment of housing loans, a lending facility up to 90 percent for both housing and cars, no pre-payment or pre-closure fees, etc., according to a statement from Bank of Maharashtra.

According to the bank, hassle-free gold loans up to Rs 25 lakh are also available at a rate of 7.70 percent with no processing fees up to Rs 3 lakh.

It has established "Gold Loan Points," a special counter in each of its branches, to expedite loans within 15 minutes. According to BoM managing director AS Rajeev, the bank offers one of the most lucrative prices to retail customers, and its "Retail Bonanza- Monsoon Dhamaka" offers customers a chance to save more money so they can enjoy the holiday season.

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