BoM increases BPLR rates, revises interest rates

Pune, Jul 15 (UNI) The Bank of Maharashtra (BoM) has increased benchmark prime lending rate (BPLR) by 25 basis points to 13.50 per cent per annum with effect from July 14.

The Bank has also revised interest rates on housing loans effective from yesterday. With this, the interest rate on housing loans up to Rs 20 lakh will carry floating interest at 10.00 per cent per annum for repayment period up to five years, 10.25 pc per annum for period above five years and up to 10 years and 10.50 pc per annum for period above 10 years and up to 20 years.

The borrowers will have the option of fixed interest at 10.75 pc per annum for repayment period up to five years and 11.25 pc per annum for period above five years and up to 10 years.

Interest rates on housing loans above Rs 20 lakh will carry floating interest at 10.25 pc per annum for repayment period of up to five years, 10.75 pc per annum for period above five years and up to 10 years and 11.00 pc per annum for period above 10 years and up to 20 years. The fixed interest rate applicable will be 11.00 pc per annum for repayment period up to five years and 11.75 pc per annum for period above five years and up to 10 years, a Bank release said here today.

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