PSU Bank Loans Booming: Are You Getting Best Rate?
Public sector banks like Bank of Maharashtra are growing fast, with loans and deposits rising sharply. This means more competition for your business — and potentially better loan rates and deposit offers for you right now.
A 0.5% lower home loan rate saves you ₹3,200/month on a ₹60L loan — more than your monthly chai budget × 100.
Your PSU bank options are expanding — here's how to pick the best one
Key Takeaways
Compare home and personal loan interest rates across PSU banks — use RBI's website or aggregators like GoCredit to check current rates before applying.
Check if your existing PSU bank FD rates are competitive — if deposits are growing fast, banks sometimes offer higher FD rates to attract funds.
If your CIBIL score is above 720, negotiate a lower interest rate with your bank — growing banks are more willing to retain good borrowers right now.
Public sector banks like Bank of Maharashtra are growing fast, with loans and deposits rising sharply. This means more competition for your business — and potentially better loan rates and deposit offers for you right now.
Here's what happened: Bank of Maharashtra's loan book grew 27% year-on-year in Q1, one of the fastest growth rates among PSU banks.. Total deposits at the bank crossed ₹3.44 lakh crore, reflecting strong customer trust in government-backed lenders.. Total business (loans + deposits combined) surpassed ₹6.5 lakh crore, signalling aggressive expansion into retail lending..
What you should do: Compare home and personal loan interest rates across PSU banks — use RBI's website or aggregators like GoCredit to check current rates before applying.. Check if your existing PSU bank FD rates are competitive — if deposits are growing fast, banks sometimes offer higher FD rates to attract funds.. If your CIBIL score is above 720, negotiate a lower interest rate with your bank — growing banks are more willing to retain good borrowers right now..
PSU banks growing their loan book aggressively often run limited-time home loan or car loan campaigns with processing fee waivers — call your nearest branch and ask specifically about current festive or quarter-end offers.
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- [1]“Bank of Maharashtra logs 27% rise in loan growth, total business crosses ₹6.5 lakh cr in Q1” Latest Money & Banking, Financial News Today - news | The HinduBusinessLine · 6 Jul 2026
This article is reported by GoCredit's Editorial Team based on the source above. GoCredit synthesises, contextualises, and adds India-borrower-relevant analysis. We are not the original publisher.