Bank of Maharashtra cuts lending rates by 0.05-0.15%
DSIJ Intelligence / 08 Aug 2017
Making its home loan cheaper, Bank of Maharashtra has slashed the marginal cost of funds-based lending rates (MCLR) by 0.05 to 0.15% with effect from Monday.
Making its home loan cheaper, Bank of Maharashtra has slashed the marginal cost of funds-based lending rates (MCLR) by 0.05 to 0.15% with effect from Monday.
In a BSE filing on Monday, the bank stated that it had reviewed its marginal cost of funds-based lending rates with effect from Monday, August 7, 2017. “With the Reserve Bank of India (RBI) cutting the repo rate by 0.25%, borrowers, particularly those with home loans, will get the benefit of decline in EMIs.
In the light of the upcoming festive season, Bank of Maharashtra is glad to pass on the policy benefits to its customers,” it added.
Bank of Maharashtra was trading at Rs 27.40, down by Rs 0.35 or 1.26% as at 1152 hours on Tuesday, on the BSE.
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