Bank of Maharashtra reduces home loans interest rates
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Bank of Maharastra(BoM) announces Mahabank Platinum Housing Loan Scheme for the home loans customers.
The new rates will be applicable for loans sanctioned between 16 September and 31 December, a press release issued here said.
For loans upto Rs30,00,000, the new interest rate for the first two-years will be 8%, for the third year 8.5%, for the fourth year 9.5% and for the fifth year 9.75%.
The average interest rate for the first five-year period will be 8.75%. The rate will be reset at the end of every fifth year, the release said.
For loans above Rs30,00,000 the interest rate for the first two-years will be 8.25%, for the third year 9% and for the fourth and fifth year 9.75%.
Average interest rate for the first five-year period will be 9%. The rate will be reset at the end of every fifth year, the release said.
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