Bank of Maharashtra Retail Loan: Public Sector Bank of Maharashtra (BoM) has announced a reduction of 0.25 percent in the loan rates linked to the repo rate in line with the key policy rate of the Reserve Bank of India (RBI).

Bank of Maharashtra Retail Loan: Public Sector Bank of Maharashtra (BoM) has announced a reduction of 0.25 percent in the loan rates linked to the repo rate in line with the key policy rate of the Reserve Bank of India (RBI). Bank of Maharashtra said in a statement on Monday that the bank's repo-linked loan rate (RLLR) has now been reduced from 9.05 percent to 8.80 percent.

The Reserve Bank of India (RBI) cut key interest rates by 0.25 percent for the second consecutive time on Wednesday to support growth facing the threat of US retaliatory tariffs. The bank said the reduced rates will make loans more affordable and enhance the financial benefits of customers.

The bank said since all retail loans offered by the bank are linked to RLLR...this reduction will benefit customers availing home, car, education, gold and all other retail loan products. Meanwhile, another public sector lender Indian Overseas Bank (IOB) has also reduced its key lending rate from 6.25 per cent to 6 per cent in line with the repo rate cut.