Bank of Maharashtra Base Rate, Bank of Maharashtra MCLR Base Rate Past Trend

Current Bank of Maharashtra MCLR Base Rate

Last Updated 28th Nov 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Tenure MCLR, Base Rate
Overnight 9.05%
1 Month 9.30%
3 Month 9.40%
6 Month 9.55%
1 Year 9.60%
Current MCLR base rate of Bank of Maharashtra ranges from 9.05% to 9.60% depending on the reset frequency of the loan. Rates are revised every month.
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Bank of Maharashtra Interest Rates
Home Loan Interest Rates 9.60% * Floating Detail
Loan Against Property Rates % * Floating Detail
Personal Loan Interest Rates 15.10% * Detail
Fixed Deposit Interest Rates 4.75% to 6.80% * Detail

Past Trend Base Rate of Bank of Maharashtra

Bank of Maharashtra base rate history
Revised Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year MCLR
2 Year MCLR
3 Year MCLR
5 Year MCLR
01st Oct 16
9.05%
9.30%
9.40%
9.55%
9.60%
-
-
-
01st Apr 16
9.10%
9.35%
9.45%
9.60%
9.65%
-
-
-

Bank of Maharashtra base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, Bank of Maharashtra decides its own base rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR base rate of any bank
  • Effective 1st April 2016, the minimum base rate is determined based on marginal cost of funds and not on overall cost of funds. Bank of Maharashtra has different MCLR base rates ranging from 9.05% to 9.60% for different tenures

Changes in MCLR Base rate of Bank of Maharashtra

  • MCLR rate can be revised by Bank of Maharashtra every month
  • Note that it is not mandatory for Bank of Maharashtra to revise its rate every month and it may choose to retain the same rate for a longer period

Bank of Maharashtra home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Bank of Maharashtra is benchmarked to its MCLR base rate for a particular tenure, say 1 month or 3 month or 6 months
  • Shorter duration loans (such as cash credit, OD facility, overnight loans) are linked to shorter duration MCLR rate while longer duration loans (such as home loan, loan against property, vehicle loan) are linked to longer duration MCLR rates
  • The applicable rate of interest on a floating rate loan will consist of two parts - the applicable benchmark rate and the spread or margin above the benchmark
  • Your loan from Bank of Maharashtra will be repriced periodically depending upon the tenure of the MCLR to which it is linked. So, a home loan linked to 1 year MCLR rate of Bank of Maharashtra will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 9.65%. This loan will initially be priced at 10.15%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.4%, the loan will be priced at 9.9% for the next year

Past trend of Bank of Maharashtra Base Rate vs RBI Repo Rate

Date Base Rate
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
05th Oct 15 9.70% decreased by 0.3%
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
01st Jun 15 10.00% decreased by 0.25%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
15th Dec 14 10.25% increased by 2%
21st Apr 14 10.40%
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
26th Aug 13 10.25% decreased by 0.15%
15th Jul 13 10.00% decreased by 0.25%
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
09th Feb 13 10.25% increased by 0.25%
29th Jan 13: 0.25% repo cut by RBI
01st May 12 10.50% increased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
21st Feb 12 10.60% increased by 0.1%
25th Oct 11: 0.25% repo hike by RBI
01st Oct 11 10.70% increased by 0.1%
16th Sep 11: 0.25% repo hike by RBI
02nd Aug 11 10.50% decreased by 0.2%
26th Jul 11: 0.5% repo hike by RBI
16th Jul 11 10.25% decreased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
05th May 11 10.00% decreased by 0.25%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
25th Jan 11: 0.25% repo hike by RBI
10th Jan 11 9.50% decreased by 0.5%
15th Dec 10 9.00% decreased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.25% decreased by 0.75%

Bank of Maharashtra Base Rate Vs. RBI Repo Rate Trend

About Bank of Maharashtra

  • Bank of Maharashtra is a Public Sector Bank in India with 1,880 branches, 1,849 ATM's and 14,189 employees across the country.
  • Bank of Maharashtra's registered office is located at 1501, Lokmangal, Shivajinagar, Pune, Maharashtra-411005 .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 3,875 crs. and Standalone net profit of Rs. 338 crs. Bank of Maharashtra reported total deposits of Rs. 122,119 crs and total advances of Rs. 98,599 crs.
  • Bank of Maharashtra's management is led by its CEO Mr. Sushil Muhnot.
  • Highest fixed deposit interest offered by Bank of Maharashtra is 6.80% per annum on deposits.
  • Its current Base Rate is 9.70%, which was last revised on 05th Oct 15.
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News - Dec 2016
12th Jun 16 Bank of Maharashtra books Rs 120 cr loss in Q4
As per the results of Q4FY16, Bank of Maharashtra reported a Net Loss of Rs 119.84 crore due to rise in bad loans. The bank reported a decline in its Total Income reported at Rs 3,566.68 crore in March quarter. Asset quality showed signs of weakening as the Gross NPAs as a percentage to Total Advances increased to 9.34 percent from 6.33 percent in the year ago period. The Net NPAs also increased to 6.35 percent compared to 4.19 percent at the end of March 2015.
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