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Public sector lender Bank of Maharashtra (BoM) has reduced interest rates on its retail loans by 25 basis points, following the Reserve Bank of India’s latest repo rate cut. Effective Saturday, the revised rates apply to home, car, education and other loans linked to the Repo Linked Lending Rate (RLLR). With this adjustment, the bank’s home loan rates now start at 7.10 per cent, while car loans begin at 7.45 per cent, placing BoM among the most competitive lenders in the market.

The RBI had lowered the repo rate by 25 basis points to 5.25 per cent on Friday, while retaining a neutral stance to keep room open for future rate actions. BoM said the reduction aims to make borrowing more affordable and support customers in meeting their financial goals. The bank added that the move is expected to provide relief to borrowers amid a high-interest rate environment and boost demand in the retail loans segment.