Latest News | Bank of Maharashtra Hikes Lending Rates
Get latest articles and stories on Latest News at LatestLY. 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.
New Delhi, Apr 17 (PTI) 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.
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The benchmark one-year MCLR is up by 10 basis points to 8.50 per cent, it said.
The one-year rate is used to fix most consumer loans such as auto, personal and home loans.
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The overnight and one-month tenor MCLRs are raised by 0.10 per cent to 7.90 per cent and 8.10 per cent each while the six-month maturity bucket increased to 8.40 per cent.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)