Bank of Maharashtra has informed the Exchange about change in MCLR Rates
MAHABANK · price
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Bank of Maharashtra has notified the stock exchange about a revision in its Marginal Cost of Funds based Lending Rate (MCLR). MCLR is the internal benchmark rate that banks use to set interest rates on different tenures of loans. A revision in MCLR means the bank is adjusting the interest rates offered on home loans, personal loans, and other lending products linked to this benchmark. No specific rate numbers or direction of change were disclosed in the headline.
MCLR revisions are routine and typically have a minor impact on the stock price. Borrowers may see their equated monthly installments (EMIs) or interest costs change depending on the direction of the revision, while the bank's net interest margins could be slightly affected.