Dena Bank scraps processing fee on home, auto loans till Dec31
Mumbai: State-run Dena Bank has scrapped processing fee for housing and auto loans for a limited period till month-end.
The fee on personal loans and gold loans have also been halved, a statement issued here said, adding the offer is valid till the end of the month.
Apart from that, it will also be giving a 50 percent concession in processing fee for trade finance scheme for credit facilities of up to Rs 2 crore, it said.
Doctors availing credit facilities of up to Rs 2 crore will also get to enjoy 50 percent cut in the processing fee, the bank said.
At present, the rate of interest for the bank's housing loans range from 10.45 to 11 percent, 11-12 percent for auto loans, while personal loans come at 13-14 percent, the statement said.
Demand from the corporate side has dried up due to gloomy economic conditions, which has forced bankers to shift focus towards the retail segment, where demand continues.