Bank of Maharashtra has cut interest rates across all categories of retail loans by 100 basis points. Housing loans for a five-year tenure will attract an interest rate of 7 per cent against the earlier 8 per cent. Loans for 10 years will be charged at 7.50 per cent and for 20 years at 7.75 per cent. Consumer loans of a five-year tenure will carry a 10.25 per cent rate against the earlier 11.25 per cent. For vehicle loans, the rate will be 8.75 per cent for the five-year tenure and for personal loans the rate will be 12.25 per cent against the previous rate of 13.25 per cent. The repayment period is three years. The offer is valid till December 31.
SBI Mutual Fund has declared a 39 per cent dividend under Magnum Balanced Fund. The record date is November 14. HSBC Mutual Fund has also declared a 20 per cent dividend under HSBC India Opportunities Fund and the record date is November 11. Franklin Templeton Mutual Fund has declared November 9 as the record date for dividend distribution under Franklin India Prima Plus fund.
Cholamandalam Securities has launched its portfolio management service, Sigma. To suit varying risk returns need of the investor, it will offer four schemes, namely, Alpha, Gamma, Lamdba and Omega.