Bank of Maharashtra slashes retail loan rates by 25 bps

Bank of Maharashtra (BoM) has lowered its repo-linked lending rate by 25 basis points to 8.80%, following the RBI's rate cut. This reduction will make retail loans, including home and car loans, more affordable for customers. Similarly, Indian Overseas Bank (IOB) also reduced its benchmark lending rate, passing on the benefits to its customers by decreasing the RLLR to 8.85%.