Select Tenor Loans

The benchmark one-year marginal cost of funds-based lending rate (MCLR) has been increased to 7.90 per cent from 7.80 per cent. The revision is effective from 7 November 2022. The one-month MCLR has been increased by 5 basis points to 7.50 per cent

The state-owned Bank of Maharashtra (BoM) said that it has hiked its marginal cost of funds-based lending rate (MCLR) for select tenor loans. on 9 November

The benchmark one-year MCLR has been increased to 7.90 per cent from 7.80 per cent, said the lender during a regulatory filing. It is used to price most of consumer loans like auto, personal and home.

The revision is effective from 7 November 2022. The one-month MCLR has been increased by 5 basis points to 7.50 per cent.

No change has been made to the rates for other tenor loans overnight in last three and six months.

The stocks of Bank of Maharashtra were traded at Rs 24.25 apiece on Bombay Stock Exchange which showed upward trend by 4.08 per cent.