Dena Bank waives home loan processing fee

Public sector lender Dena Bank has followed its peers by waiving the entire processing fee for home and car loans.

For personal and gold loans, it has reduced the fee by half.

This comes after the country’s largest bank State Bank of India reduced its processing fee on home and car loans by half.

Dena Bank has also extended 50 per cent concession in processing fee for its Dena Trade Finance Scheme and Dena Doctor+ scheme under which credit facilities up to Rs 2 crore are extended within the eligibility criteria of the scheme, the bank said in a statement.

The festive offer is valid up to October 31, the bank said.

Dena Bank has already reduced rate of interest in respect of housing loans, car loans, educational loans and personal loans with effect from September 4, 2012.

At present, it charges an interest rate of 10.45 and 11 per cent for housing loans, 11-12 per cent for car loans, 12 per cent for education loans and 13-14 per cent for personal loans.

To attract customers and meet demand, many public sector banks have announced a complete waiver of processing fee for a limited period.

Beena.parmar@thehindu.co.in