BANKS
Bank of Maharashtra hikes lending rates
Bank of Maharashtra has increased the marginal cost of funds-based lending rates (MCLR) by 10 basis points across tenors; benchmark one-year MCLR is now 8.50%.
Bank of Maharashtra has increased the marginal cost of funds-based lending rates (MCLR) by 10 basis points across tenors; benchmark one-year MCLR is now 8.50%.
State-owned Bank of Maharashtra (BoM) on Monday announced increase in the marginal cost of funds-based lending rates (MCLR) by 10 basis points across tenors. The revision in MCLR is effective from April 15, 2023.
The benchmark one-year MCLR is up by 10 basis points to 8.50%, it said.
The one-year rate is used to fix most consumer loans such as auto, personal and home loans.
The overnight and one-month tenor MCLRs are raised by 0.10% to 7.90% and 8.10% each while the six-month maturity bucket increased to 8.40%.
