Bank of Maharashtra rationalizes Rate of Interest
Pune, 7 May 2018: Bank reviewed and rationalized its cost of funds based lending rates (MCLR) which are as under. These rates will be effective from 07.05.2018.
|
Tenor |
MCLR |
|
Overnight MCLR |
8.30% |
|
1 month MCLR |
8.35% |
|
3 month MCLR |
8.45% |
|
6 months MCLR |
8.55% |
|
1 year MCLR |
8.75% |
Retail Deposit-
Bank has revised interest rates on ‘Retail Domestic Term Deposits’ (below Rs.1 Crore). Deposits of over 1 to 2 years will earn 6.50% while deposits of over 2 to 3 years will earn 6.60% interest as against 6.25% earlier.
|
Deposits below Rs.1 crore |
|
|
Tenor |
Interest rate |
|
1- 2 years |
6.50% |
|
2-3 years |
6.60% |
Bank kept Base rate unchanged at 9.50% p.a.
