Bank of Maharashtra has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR), effective from 31 March 2026. The overnight MCLR has been reduced from 7.90% to 7.75%, marking a notable change in the bank’s lending rates.
The bank’s decision to adjust the overnight MCLR comes as part of a routine review of its benchmark rates. However, the MCLR for other tenors, including one month, three months, six months, and one year, will remain unchanged. The rates for these tenors are 8.20%, 8.45%, 8.70%, and 8.85%, respectively.
This adjustment is aligned with the bank’s strategy to optimise its lending rates, potentially benefiting borrowers with reduced interest costs on overnight loans. The unchanged rates for other tenors indicate stability in the bank’s lending strategy for those durations.
The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency and timely disclosure of significant changes affecting stakeholders.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).