BoI revises interest rates

Mumbai, Oct 16 (UNI) Bank of India has revised the interest rates on short-term and personal vehicle loans to 11.75 per cent per annum.

It is offering a special interest concession of 0.25 per cent on the rate of interest on vehicle loans for women.

Loans under tie-up arrangements with dealers and employers will also get concessional interest. However, the rate of interest on loans with longer repayment period are offered at 12 per cent per annum.

Under the ''Priyadarshini Yojana'', a development initiative that offers incentives to women entrepreneurs, Bank of India has declared a further rebate of 1 per cent on loans. Other incentives include reduced processing charges, and accident insurance cover at competitive rates during this festive season.

UNI