Mumbai: Following the RBI guidelines, the bank of Maharashtra has reduced the Repo linked lending rates (RLLR) by 25 bps from 8.45% to 8.20% per annum with effect from 8th of October.
The Bank has reduced its Marginal Cost of funds based Lending Rates (MCLR) by 10 basis points with effect from 10th October.
While the Overnight MCLR has been reduced to 8.05% from 8.15%, the one month MCLR has been reduced to 8.15% from 8.25% earlier. Three, Six month and One year MCLRs have been reduced to 8.20%, 8.30% and 8.40% respectively.
However, the Bank rate has been kept unchanged at 9.50% per annum.