Are you planning to apply for a home or a car loan? Well, here’s some good news for you. Whenever you take a loan, you have to pay a processing fee for it. However, this government bank is offering loans without any processing fee. The bank is Union Bank of India. The bank has announced completely free processing fees for customers willing to take home loans and two or four wheeler loans. However, not all customers will be able to take advantage of this facility.
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So, who can apply for loans without paying processing fee?
If you also want to take Union Bank Union Bank of India Processing free loan to buy a home or car, then your credit score should be 700 or above. You will get the benefit of this discount even when you transfer the loan taken from any NBFC or other bank to Union Bank of India.
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How long will this offer lastUnion Bank of India has brought the offer of processing free loan for some time. This period has started from August 16, 2023, which will continue till November 15, 2023. At this time, when RBI has kept the repo rate only 6.5 percent, then Union Bank has brought this special facility for its customers.
Interest rate on Fixed DepositThe bank provides FD facility ranging from seven to 10 years. Annual interest is given by Union Bank of India on fixed deposits at the rate of 3 to 7 per cent. Senior citizens are given an extra interest of 50 basis points on interest. The bank is offering 6.70% annual interest on Tax Saving Fixed Deposit.
Senior Citizen, on the other hand are being given 7.20 per cent per annum interest is given to senior citizens for a period of 5 to 10 years.
