Bank of Maharashtra hikes lending rates by 10 basis points across tenors
The one-year rate is used to fix most consumer loans such as auto, personal and home loans
 "Bank of Maharashtra")
Bank of Maharashtra | Photo: Wikipedia
Listen to This Article
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 per cent, 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 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.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Apr 17 2023 | 9:40 PM IST