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    HomeNewsBusinessCompaniesBank of Maharashtra cuts lending rate by 0.2%

    Bank of Maharashtra cuts lending rate by 0.2%

    The bank has reduced marginal cost of funds based lending rate (MCLR) across various tenures effective today, Bank of Maharashtra said in a regulatory filing.

    February 07, 2017 / 08:13 IST
       
       
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      Ahead of RBI monetary policy review, public lender Bank of Maharashtra today slashed its benchmark lending rate by up to 0.2 percent.

      The bank has reduced marginal cost of funds based lending rate (MCLR) across various tenures effective today, Bank of Maharashtra said in a regulatory filing.

      With the reduction in the benchmark rate, home, car and other loans linked to MCLR will become cheaper.

      The bank has reduced MCLR by 0.20 percent to 8.75 percent, from 8.95 percent, for 1-year tenure.

      first published: Feb 7, 2017 07:38 am

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