Bank of Maharashtra inaugurates 1st Housing Finance Branch in Noida. Checkout the special offers here

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Noida, 7th February, 2022: Bank of Maharashtra, a premiere public sector bank in the country, inaugurated its first Housing Finance Branch on Monday in Noida Sector 62.

A.S. Rajeev, MD & CEO of Bank of Maharashtra inaugurated the housing finance branch. Sabirali Shaikh, Zonal Manager, Chitra Datar (GM & Zonal Manager Delhi Zone), Sribatsa Karan, Deputy Zonal Manager, Bank of Maharashtra Noida Zone and Bank officials were present in the programme.

In his address at the inaugural program, Rajeev said, “Our vision to cater specialised service is getting augmented, and having a housing finance branch at Noida which is one of leading Real Estate market will boost our portfolio while adding fillip to our customer service.”

While speaking to Ten News, Rajeev informed, “Bank of Maharashtra is offering housing loan at the most affordable price of 6.40% which is the lowest in the industry. Our vehicle loan is also one of the lowest in the country. With prevailing Zero processing charge and 3 EMI free months, this is icing on the cake for our customers.”

On impact of Covid on housing loan market, Rajeev said, the third wave is alredy over, it did not have much impact the finance sector or housing loan market which is growing at 15-16% in India.

Rajeev also spoke about the ‘Ghar Wapsi’ campaign which aims to woo former customers as well as existing customers, who have deposits with it but loan accounts with other banks.

Enthused by the ‘Ghar Wapsi’ strategy of the bank, customers, mostly in the home and micro, small and medium enterprise (MSME) segments, transferred their loan accounts aggregating about Rs.600 crore in FY2020 from other banks to BoM.

In his address at the event, Sabirali Shaikh, Zonal Manager Noida Zone said that the zone was created in July 2020 at business level of 3,100 crores and now it has been increased to 4,800 crores. The CD ratio of the zone is 190%. The zone has added 8 new branches since inception which includes 3 branches in Uttarakhand. “We are offering gold loan at an attractive ROI of 7% p.a.”

While speaking to Ten News, Saibirali said, Noida’s housing market stands at 2nd position in the country and in current FY it has posted a tremendous growth of 22-23%. “So, to strengthen the presence of BOM in Noida, we have inaugurated a housing finance branch here.”

Speaking about the benefit of an exclusive housing finance branch, he said that instead of going to bank branches, customers can visit the housing loan branch where they can avail specialised services such as housing loan, top up loan, lap loan with a high degree of personlisation. “We promise good service, better rates and fast turnaround time.”

The program was presented by Tanuj Datta, Branch Head, Housing Finance Branch and vote of thanks was proposed by Sribatsa Karan, Deputy Zonal Manager.