Bank of Maharashtra has decided to slash its base rate by 10 basis points to 10.60%. The move has been taken in order to ramp up its credit.The bank has also decided to offer special benefits on home loans. The bank has waived processing fees for the home loans upto Rs. 25 lac, which falls in the range of Rs. 4,000 and Rs. 12,500.
Apart from that the bank has announced to offer home loans upto Rs. 30 lac under floating rate scheme at base rate, for a repayment period of five years.
The revised base rate is applicable from 21st February.