“Smart Investing: How Financial Services Can Help You Grow Wealth”
Smart Investing: Bank of Maharashtra (BoM) has recently reduced interest rates on retail loans, including home and car loans, by 25 basis points (bps). This decision aligns with the Reserve Bank of India’s (RBI) recent reduction of the repo rate by 25 bps to 6.25%.
Smart Investing:
Key Highlights:
- Home Loans: The benchmark interest rate for home loans has been reduced to 8.10% per annum, positioning BoM among the banks offering the lowest rates in the industry. bankofmaharashtra.in
- Car Loans: Interest rates for car loans have been decreased to 8.45% per annum. Business Standard
- Additional Concessions: BoM offers a 0.05% interest rate concession to women borrowers and defense personnel. bankofmaharashtra.in
- Processing Fees: The bank has waived processing fees on both home and car loans, providing further financial relief to borrowers. India Today
- Loan Tenure: Home loans are available with a maximum tenure of up to 30 years or until the borrower reaches 75 years of age, whichever is earlier. bankofmaharashtra.in Smart Investing
These measures reflect BoM’s commitment to offering competitive financing solutions and making home and car ownership more affordable for its customers.
Prospective borrowers can apply for these loans through BoM’s official website or by visiting any branch.
For more details on the revised interest rates and loan offerings, customers are encouraged to visit BoM’s official website or contact their nearest branch.
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