Industry

Bank of Maharashtra cuts repo-linked lending rate by 15 bps

Bank Of Maharashtra head office at Shivaji Nagar, Pune.   | Photo Credit: Santosh Mishra

State-owned Bank of Maharashtra has reduced its repo linked lending rate (RLLR) by 15 basis points to 6.90 %. The lender’s retail and MSME loans are linked to RLLR. The new rates are effective from November 7. Reduction in RLLR makes our home loan, car loan, gold loan, education loan, personal loan along with MSME loans more attractive and affordable, bank’s executive director Hemant Tamta said in a release.

Earlier ahead of the festive season, the bank had also announced processing fee waiver on home, car and gold loans.

With this downward revision in RLLR, home loan rates start at 6.95 % (0.05 % concession to woman and defence personal), car loan rates start at 7.55 % and gold loan rates at 7.35 %, the bank said. Bank of Baroda also reduced its RLLR by 15 basis points (bps) to 6.85 % from November 1.

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Printable version | Mar 8, 2021 8:46:42 PM | https://www.thehindu.com/business/Industry/bank-of-maharashtra-cuts-repo-linked-lending-rate-by-15-bps/article33057628.ece

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