
Bank of Maharashtra Cuts Lending Rates: What You Need to Know
The Bank of Maharashtra (BoM) has made exciting news by cutting its lending rate by 25 basis points, lowering it from 9.05% to 8.80%. This change aligns with the Reserve Bank of India's latest decision to reduce key interest rates to support economic growth. With this reduction, loans for homes, cars, education, and more will become more affordable. For instance, home loans will now start at just 7.85% per annum, while car loans will begin at 8.20%, making them some of the lowest rates in the market. Additionally, Indian Overseas Bank has also cut its lending rate, ensuring that many customers can benefit from these reduced rates.