Marginal Cost Of Funds Based Lending Rates
Bank of Maharashtra raises one-year MCLR by 10 bps for select tenor loans
State-owned Bank of Maharashtra on Wednesday said it has increased its marginal cost of funds based lending rate (MCLR) for select tenor loans. The benchmark one-year MCLR, used to price most of consumer loans such as auto, personal and home, has been revised upwards to 7.90 per cent from 7.80 per cent, the lender said in a regulatory filing. The revised MCLR has come to effect from November 7, 2022. The one-month MCLR has been raised by 5 basis points to 7.50 per cent. Rates for other tenor loans like overnight, three and six months have been kept unchanged. Bank of Maharashtra stock traded at Rs 24.25 apiece on BSE, up by 4.08 per cent.
 "Bank of Maharashtra raises one-year MCLR by 10 bps for select tenor loans")
Bank of Baroda announces reduction in MCLR by 0.05% across all tenors
Shares of Bank of Baroda were trading 1.76 per cent lower at Rs 47.35 apiece on the BSE
 "Bank of Baroda announces reduction in MCLR by 0.05% across all tenors")
Linking base rate to MCLR may not be good enough
Customers should still consider shifting to the best MCLR-linked home loan rate available
 "Linking base rate to MCLR may not be good enough")
