Bank Loan: Bank of Maharashtra said in a statement that the new rates are effective from August 14. The bank said that the twin benefits of low interest rates and waiver of processing fees would help in reducing the financial burden on the customers. In such a situation, customers will also be attracted to take loans from the bank.
Bank of Maharashtra: The need to take a loan can arise at any time. However, if loans are taken from banks, then banks also charge processing fees. However, now a bank has announced to waive the processing fee. This is expected to provide some relief to the loan borrowers. Actually, Bank of Maharashtra has announced to waive the processing fee on the loan. Along with this, it has also been announced to cut the interest rate.
Bank of Maharashtra
State-owned Bank of Maharashtra (BoM) cut the interest rate on home and car loans by up to 0.20 percent. Apart from this, the bank also announced to waive the processing fee. With this deduction, home loans will now be available at 8.50 per cent instead of the existing 8.60 per cent. On the other hand, the car loan has been made cheaper by 0.20 percent to 8.70 percent.
New rates will be effective from this date
Bank of Maharashtra said in a statement that the new rates are effective from August 14. The bank said that the twin benefits of low interest rates and waiver of processing fees would help in reducing the financial burden on the customers. In such a situation, customers will also be attracted to take loans from the bank. At the same time, there has been a rise in the share price of Bank of Maharashtra in the last one year.
This is the share price
The share price of Bank of Maharashtra closed at Rs 37.65 on NSE on August 11. The bank’s stock has a 52 week high of Rs 38.80 and a 52 week low of Rs 16.90 on NSE. The stock has touched its 52 week high price on 11th August itself.
Disclaimer: Here only the performance of the stock is given, it is not an investment advice. Investing in the stock market is subject to risk and you should consult your advisor before investing.
