Kuchh Baat Aapke Interest Ki

Bank of Maharashtra MCLR Rates, Bank of Maharashtra Base Rate – May 2017

Last Updated 22nd May 2017

Bank of Maharashtra MCLR Rate – Current Rate, Past Trend

Current MCLR of Bank of Maharashtra ranges from 8.55% to 8.75% depending on the reset frequency of the loan. Rates are revised every month.

Bank of Maharashtra MCLR, Base Rate Tenure
8.55% Overnight
8.70% 1 Month
8.70% 3 Month
8.75% 6 Month
8.75% 1 Year
Base rate - 9.70% Past Trend
Apply Loan Online
Bank of Maharashtra Interest Rates
Home Loan Interest Rates 8.75% * Floating Detail
Personal Loan Interest Rates 15.10% * Detail
Fixed Deposit Interest Rates 4.25% to 6.50% * Detail

Past Trend MCLR Rate of Bank of Maharashtra

Bank of Maharashtra MCLR Rate History

Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year
2 Year
3 Year
5 Year
07th May 17
07th Apr 17
07th Mar 17
07th Feb 17
07th Jan 17
01st Oct 16
01st Apr 16

Bank of Maharashtra MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Bank of Maharashtra decides its own MCLR Rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR 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 8.55% to 8.75% for different tenures

Changes in MCLR 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 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 RBI Rates Bank Rates
08th Feb 17 0%
07th Dec 16 0%
04th Oct 16 0.25%
05th Apr 16 0.25%
05th Oct 15 9.70% 0.3%
29th Sep 15 0.5%
02nd Jun 15 0.25%
01st Jun 15 10.00% 0.25%
04th Mar 15 0.25%
15th Jan 15 0.25%
15th Dec 14 10.25% 0.15%
21st Apr 14 10.40% 0.15%
28th Jan 14 0.25%
18th Dec 13 0%
29th Oct 13 0.25%
20th Sep 13 0.25%
26th Aug 13 10.25% 0.25%
15th Jul 13 10.00% 0.25%
03rd May 13 0.25%
19th Mar 13 0.25%
09th Feb 13 10.25% 0.25%
29th Jan 13 0.25%
01st May 12 10.50% 0.1%
17th Apr 12 0.5%
21st Feb 12 10.60% 0.1%
25th Oct 11 0.25%
01st Oct 11 10.70% 0.2%
16th Sep 11 0.25%
02nd Aug 11 10.50% 0.25%
26th Jul 11 0.5%
16th Jul 11 10.25% 0.25%
16th Jun 11 0.25%
05th May 11 10.00% 0.5%
03rd May 11 0.5%
17th Mar 11 0.25%
25th Jan 11 0.25%
10th Jan 11 9.50% 0.5%
15th Dec 10 9.00% 0.75%
02nd Nov 10 0.25%
16th Sep 10 0.25%
27th Jul 10 0.25%
02nd Jul 10 0.25%
01st Jul 10 8.25%

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.
  • Its current Base Rate is 9.70%, which was last revised on 05th Oct 15.

Why MyLoanCare???

Nowadays, banks give various offers on GL to give the best rates to individuals. To get GL with lowest interest rate and lowest EMI, compare new rates and offers of all banks at MyLoanCare. You can do rates comparison, check your eligibility, apply online and get the cheapest rate on GL. MyLoanCare helps you throughout the loan process from the day you apply to the time you get complete disbursement. You can even track your loan status after getting registered with us. MyLoanCare make it easy for you to get hassle free GL with ultimate cashback and refer and earn benefits. So, apply for GL today and enjoy the benefits.

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.