Bank Of Maharashtra Slashes Home Loan Interest Rate To 8.4% From March 13

The new rate is effective from March 13, 2023, BoM said in a statement. Currently, the interest rate on a home loan is 8.6%.

New Delhi: In massive relief to the homebuyers, the Bank Of Maharashtra has decided to slash the interest rate on home loans to 8.4% from march 13 making it one of the lowest in the banking sector. The new rate is effective from March 13, 2023, BoM said in a statement. Currently, the interest rate on a home loan is 8.6%. The BoM has also announced a special rate of interest (ROI) for defence personnel, including paramilitary forces, benefiting salaried and pensioner categories for home loans.

Earlier, the BoM had waived processing fees for its gold, home and car loans under the festive offer. The lender, in a statement, said, BoM is offering the most lucrative ROI with added benefits on its array of products, benefiting customers availing them.

Bank Of Baroda Too Slashes Interest Rates On Home Loan To 8.5%

Last week, public sector lender Bank of Baroda slashed its home loan interest rates by 40 basis points (bps) to 8.5 per cent.

Further, BoB also reduced its MSME loan interest rates starting at 8.4 per cent. Both offers were effective from March 5, 2023, and are valid for a limited period till March 31, 2023, BoB said in a statement earlier.