Bank of Maharashtra Cuts MCLR Rates Across Tenors

Bank of Maharashtra has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR). The bank has reduced its MCLR across various tenors, with the most significant reduction seen in the overnight tenor, which has decreased from 7.05% to 6.95%. Other tenors, including one-month, three-month, and six-month, have also seen marginal reductions. The one-year MCLR remains unchanged at 9.05%. These revised rates are effective from October 31, 2026, and are applicable on a per annum basis. This move is expected to make borrowing cheaper for customers.