Bank of Maharashtra cuts retail loans rate by 25 bps

Pune: Public sector lender Bank of Maharashtra reduced its interest rates by 25 basis points on retail loans, including home, car, education, and other loans linked to the repo rate. Its repo rate linked loan rate (RLLR) was reduced to 8.8% from 9.05%. The lender is offering interest rates starting from 7.85% on home loans and 8.2% on car loans.
This is the second time the bank reduced the lending rate linked to the policy rate following the Reserve Bank of India (RBI) reducing the repo rate. The central bank reduced the repo rate by 25 bps two times in 2025 so far, once in February and once last week. "In the current high-interest rate landscape, the bank is making retail loans cheaper to bring in cheer among customers," the lender said in a statement on Monday.
The bank's retail loan portfolio was at Rs 61,157 crore as of December 21, 2024, of which housing loans were at Rs 35,982 crore while vehicle loans were at Rs 3,790 crore.