Pune, Oct 11 (KNN) As the Bank of Maharashtra has reduced its benchmark lending rates i.e. Marginal Cost Lending Rates (MCLR) across various tenors, the Repo Linked Lending Rates (RLLR) for Retail and Micro Small and Medium Enterprises (MSMEs) borrowers have been reduced too.

RLLR have been reduced by 25 bps in line with the reduction in Repo Rate by Reserve Bank of India. This will further benefit the Retail and MSME borrowers.

The MCLRs have been reduced to 10 bps below the existing levels across all MCLR tenors w.e.f 8 October, 2019.

The Bank’s one year MCLR will be 8.40 per cent, which is competitive as per the current market scenario. For all other tenors, overnight, one month, three months and six months rates are 8.05 per cent, 8.15 per cent, 8.20 per cent and 8.30 per cent respectively.

Published On : 11-10-2019

Source : Knn India