Mumbai based public sector lender - Dena Bank, has waived processing fees for housing loans and car loans. The bank is also offering 50% discount on the processing fees of personal and gold loans.
Dena Bank has also extended 50% concession in processing fees for its Dena Trade Finance Scheme under which credit facilities up to Rs. 2 crore are extended to the traders. The 50% discount in processing fees is also applicable to the doctors who take loan under its scheme Dena Doctor+ for setting up the clinic and purchasing medical equipments, for the loans up to Rs 2 crore, the bank said in a statement.
All public sector banks are focusing on retail credit this year as corporate pipeline has almost dried up and also the diktat from the finance ministry to focus on retail loans.
As a result most banks are offering home loans on the base rate and have also reduced interest rates on automobile and education loans substantially. Some banks have also reduced the interest rates for small and medium enterprises (SME) also.
