BOM Lowers Loan Rates After RBI Repo Cut; Home Loans Start 7.10%

• Bank of Maharashtra (BOM) reduced interest rates by 0.25% on home, car, education, and other RLLR-linked loans, effective December 6.
• Following the rate cut, BOM's home loan interest rates now start at 7.10%, and car loan rates at 7.45%.
• The Reserve Bank of India (RBI) cut the repo rate by 0.25% to 5.25% on December 5, marking a total 1.25% reduction since February 2025.
• RBI raised its GDP growth forecast for FY26 to 7.3% from the previous 6.8%.

Why It Matters: Bank of Maharashtra's rate cut makes home, car, and education loans cheaper.