New Delhi: Bank of Maharashtra has reduced its marginal cost of funds based lending rates (MCLR) by 10 basis points across tenors, it said in a regulatory filing.
Bank’s one-year marginal cost of funds based lending rate will be priced at 8.40 percent from 8th October 2019. All the other tenors ranging from overnight to six-months have also been cut by 10 basis points and are now priced between 8.05-8.30 percent.
The bank also reduced repo linked lending rate (RLLR) by 25 basis points to 8.20 percent from 8th October.
It has kept the base rate unchanged at 9.50 percent per annum.
State Bank Of India has alaos announced cut in MCLR by 10 basis points from 10th October.