Bank of Maharashtra (BoM) has cut interest rate on home loans to 8 percent as part of its festive offer. The bank currently offers home loans starting at 8.3 percent. The rate varies depending on the borrower's credit score.
The Pune-based lender has also slashed interest rate on personal loans to 8.9 percent from the existing 11.35 percent effective from October 17, 2022. The lender has already waived the processing fees for its gold, home, and car loans under the 'Diwali Dhamaka' offer. By introducing this offer, the bank is offering one of the lowest interest rates in retail loans, especially home and personal loans, in the banking industry.
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.
