New Delhi, April 14 (H.S.): The Bank of Maharashtra (BoM) has reduced its lending rate by 0.25 percent, aligning with the Reserve Bank of India’s (RBI) repo rate. The bank’s repo-linked lending rate (RLLR) now stands at 8.80 percent, down from 9.05 percent. This reduction is expected to benefit customers with home, car, education, gold, and other retail loans, making borrowing more affordable.

BoM announced that home loan rates will start at 7.85 percent per annum, while car loan rates will be the lowest in the industry at 8.20 percent per annum. This change follows the RBI’s repo rate cut from 6.25 percent to 6.00 percent, prompting other banks to also lower rates.

Hindusthan Samachar / Jun Sarkar