Bank of Maharashtra Festive Offer: Bank of Maharashtra gave great news to customers, reduced interest rates on home loans

Newz Fast, New Delhi: If you are a Bank of Maharashtra account holder then there is important news for you. The bank is going to start a special scheme for its customers. You can take advantage of this special scheme even if you do not have an account with this bank.

Bank of Maharashtra announced to reduce the interest rate on home loans to 8 percent under the festive season exemption. At present, the home loan is given by the bank at a rate starting from 8.3 percent.

New rates applicable from today

However, this rate varies depending on the credit score of the borrower. It was informed by the bank's headquarters in Pune that Bank of Maharashtra has also announced to reduce the interest rate on personal loan from 11.35 percent to 8.9 percent.

The new rates have come into effect from October 17, 2022. The bank has already waived the processing fee for home and car loans under 'Diwali Dhamaka'.

Lowest interest rate offer

The bank has also offered one of the lowest interest rates in the banking industry for Retail Loans, Home Loans and Personal Loans.

The statement said that on the one hand, the interest rates are increasing in line with the increasing policy rates, at such a time, Bank of Maharashtra is making retail loans cheaper to bring happiness among the customers during the festive season.

How can you take advantage

If you are planning to buy a house, flat or car this festive season, then you can take advantage of this scheme offered by Bank of Maharashtra.

Apart from this, if your home or personal loan is already running from any other bank, then you can also take advantage of low interest rate by getting your loan transferred.