Good news for loan borrowers! Bank of Maharashtra cuts lending rates by 0.10 per cent to 8.60 per cent


  1. Rbi official
  2. Benchmark remained unchanged
  3. Lending rates (mclr
  4. Residential real estate market
  5. Tax board homepage

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No respite for existing home loans as banks cut rates for new borrowers Sidhartha A top rbi official said, "Banks can’t discriminate between old and new customers", but advised borrowers to.

While IOB said it has cut MCLR for one-year loans to 8.65 per cent from 8.70 per cent, Bank of Maharashtra had cut MCLR rates by 5 basis points across various tenors.

Under the new rates, which are effective from May 16, the rate of home loans under Rs 30 lakh by salaried borrowers has been cut by 0.30 per cent to 8.35 per cent, the bank said in a statement.

Smaller rate cuts may push borrowers to fixed rate loans. HomeNews. by. we might start to see more interest in fixed rate home loans as people start to question if now is a good time to lock in a rate," he said.. variable rates were the most popular product amongst borrowers, with.

A day after the RBI cut the key repo rate, public sector Bank of Maharashtra on Friday announced to cut the benchmark one-year MCLR by 0.10 per cent to 8.60 per cent.

Similarly, for one-month tenor, it will be 8.35 per cent, down 10bps from the previous rate. It may be noted that MCLR benchmark remained unchanged for three-months and overnight tenors at 8.50 per cent and 8.30 per cent respectively. Bank of Maharashtra has cut the benchmark one-year MCLR by 0.10 per cent to 8.60 per cent.

With this, the revised one-year MCLR stands at 8.5% down from 8.55 per cent earlier. The move follows the Reserve Bank Of India (RBI) nudging banks to slash the lending rates to help retail borrowers.

New Delhi: A day after the RBI cut the key repo rate, public sector Bank of Maharashtra Friday announced to cut the benchmark one-year MCLR by 0.10 per cent to 8.60 per cent. Bank of Maharashtra has reviewed and reduced its marginal cost of funds based lending rates (mclr) with effect from June 7, 2019, it said in a release.

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Rate cut good news for borrowers Friday, 5th October 2012 // Property Market News At its monthly meeting in Sydney, the Reserve Bank of Australia elected to reduce the official cash rate by twenty-five basis points to 3.25 per cent.