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Bank of Maharashtra cuts repo-linked lending fee by 15 foundation factors to six.90%

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Mumbai: State-owned Bank of Maharashtra has diminished its repo linked lending fee (RLLR) by 15 foundation factors to six.90 per cent. The lender’s retail and MSME loans are linked to RLLR. The new charges are efficient from November 7.

“Reduction in RLLR makes our residence mortgage, car loan, gold loan, education loan, personal loan along with MSME loans more attractive and affordable,” financial institution’s government director Hemant Tamta mentioned in a launch. Earlier forward of the festive season, the financial institution had additionally introduced processing payment waiver on residence, automotive and gold loans.

With this downward revision in RLLR, residence mortgage charges begin at 6.95 per cent (0.05 per cent concession to lady and defence private), automotive mortgage charges begin at 7.55 per cent and gold mortgage charges at 7.35 per cent, the financial institution mentioned. Bank of Baroda additionally diminished its RLLR by 15 foundation factors (bps) to six.85 per cent from November 1.

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