Bank of Maharashtra is all set to link its retail loans with the repo rate, which will make the loans cheaper. The new rates will be effective from September 1, 2019 for the ensuing festival season. The bank has already linked the housing loan interest rate with repo rate.
Through linking of repo rate to retail loans, the bank is passing interest rate benefits directly to the customers and it will make the retail loans cheaper.
Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The Bank also offers services to agricultural and SME sectors.