Bank of Maharashtra has announced a reduction in the interest rates of home loans and car loans under the ‘Retail Bonanza-Festive Dhamaka’ offer.
Bank of Maharashtra has announced ‘Retail Bonanza – Festive Dhamaka’ offer. Under this offer, the bank has cut interest rates on home loans and car loans. The bank has reduced the home loan interest rate from 6.80 percent to 6.40 percent. Similarly, the interest rate on car loans has also been reduced from 7.05 per cent to 6.80 per cent. BoM said in a statement that the new rates will be applicable from 13th December i.e. tomorrow.
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bank statement
However, the bank says that the rates offered under the ‘Retail Bonanza – Festive Dhamaka’ are linked to the credit score of the borrowers, which means having a good credit score is a must to take advantage of it. The bank has already waived processing fees on gold, home and car loans.
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AS Rajeev, Managing Director, Bank of Maharashtra said, “We believe that the ‘Retail Bonanza – Festive Dhamaka’ offer will help customers save more on their loans and bring happiness to their lives.” BoM Executive Director Hemant Tamta said that the bank is offering its customers the cheapest home loan and car loan in the industry.
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