Bank Of Maharashtra head workplace at Shivaji Nagar, Pune.
| Photo Credit: Santosh Mishra
Providing reduction to debtors and maybe heralding a decrease interest fee regime, Bank of Maharashtra (BoM), has introduced to cut back its house loan interest fee to eight.50% (earlier 8.60%) & car loan interest fee to eight.70% (earlier 8.90%) with impact from August 14, 2023.
This follows the third fee hike pause by the Reserve Bank earlier this week.
“The processing fees are also waived in home & car loan schemes. This dual benefit of reduced interest rates and waiver of processing fees in home and car loan is a testament of bank’s commitment to alleviate financial burden for its customers and support their financial journey,” the financial institution stated in a press release.
“In the current high-interest rate landscape, the bank has taken a proactive step to lower its home and car loan interest rates,” it added.
Besides house and car loan schemes, the financial institution has already waived processing charges for its different retail schemes equivalent to, training loan and gold loan beneath its UDAAN Campaign.
