The Hindu Business Line : Bank of Maharashtra cuts lending rates

Mangalore, Feb. 12 Bank of Maharashtra has reduced interest rates in the range of 25-50 basis points on its housing loan, education loan and SME (small and medium enterprise) segment loan with effect from February 11.

A press release said that the bank has reduced the interest rate on housing loan by 25 bps for all loans sanctioned on and after March 5, 2007.

The bank also announced a reduction in interest rates by 50 bps on education loans. The rate of interest for SMEs are reduced by 25 bps, and the rationalised rates are applicable as per credit rating, the release added.

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