Bank of Maharashtra | Photo: Wikipedia2 min read Last Updated : Aug 12 2023 | 2:02 PM IST
In order to push retail loans, public sector lender Bank of Maharashtra (BoM), on Saturday, cut the lending rate for home loans and car loans by upto 20 basis points. The revised rates would come into effect from August 14, 2023.
In contrast, it has hiked its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points in select tenors upto one year.
The Pune-based lender, in a statement, said that the revised rate for home loan would be 8.5 per cent as against old rate of 8.6 per cent and for car loans, it would be 8.7 per cent, as against 8.9 per cent being old rate.
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Bank of Maharashtra cuts home, car loan rates by upto 20 basis points | Finance News
