MCLR: The new rate has been implemented from April 15 by the bank. Earlier, the leading private sector HDFC Bank had announced a cut in the MCLR rate.
Bank of Maharashtra MCLR: If your account is also in Bank of Maharashtra (BOM) then this news is for you. Public sector Bank of Maharashtra (BOM) has announced an increase in the interest rate for loans of different tenures. Under this, the marginal cost based interest rate (MCLR) of the fund has been increased by 0.10 percent. The change in MCLR is effective from April 15, 2023. The one-year MCLR has increased by 0.10 percent to 8.50 percent.
The new rate was implemented from April 15
Its effect is that the interest rate of loans available to customers like vehicle, personal and home loans is based on one year MCLR (MCLR). MCLR for one day and one month has been increased by 0.10 percent to 7.90 percent and 8.10 percent respectively. The new rate has been implemented from April 15 by the bank. Earlier, the leading private sector HDFC Bank had announced a cut in the MCLR rate.
HDFC Bank has reduced its MCLR by up to 85 basis points for select tenors . According to the bank’s website, the new rates have been made effective from April 10, 2023. After the reduction in MCLR, the new MCLR has become 7.80 percent. Earlier it was 8.65 percent. According to the bank’s website, the one month MCLR has come down from 8.65 per cent to 7.95 per cent. There was a huge reduction of 70 basis points in this.
