Bank of Maharashtra Cuts Retail Loan Rates by Up to 50 Bps
NEW DELHI: The Bank of Maharashtra, a state-owned institution, announced on Thursday that it has cut its interest rates by up to 50 basis points on retail loans including home, car, education, and other loans linked to the Repo Linked Lending Rate. This reduction aligns with the RBI’s recent rate moderation and is effective from June 10. With this cut, the starting interest rate for home loans is now 7.35 percent, while car loans begin at 7.7 percent, marking some of the lowest rates in the banking sector, according to a statement from BoM. The bank emphasized that this rate…