BOI's 0.5% concession on home, car loans to overseas Indians

NEW DELHI: Seeking to increase its NRI customer base, public sector lender Bank of India on Saturday announced a half per cent concession to overseas Indians on home and auto loans.

The concession has been made to woo the diaspora, members of which are participating in the three-day Pravasi Bhartiya Divas being held here.

The bank has also put up a stall at the Vigyan Bhavan, the venue of the annual conclave where nearly 1,500 NRIs and People of Indian Origin (PIOs) from across the world have assembled.

The loan concession was announced by Overseas Indian Affairs Minister Vayalar Ravi when he visited the bank stall.

Prime Minister Manmohan Singh, Finance Minister Pranab Mukherjee and several other Union Ministers addressed the gathering today.