- Bank of Maharashtra revised MCLR rates effective May 30, 2026
- New MCLR rates range between 7.5% and 8.85% by loan tenure
- Overnight MCLR cut to 7.5%, one-month MCLR increased to 8.3%
Bank of Maharashtra has revised Marginal Cost of Funds-Based Lending Rate (MCLR) rates across tenures, the lender said in an exchange filing on Friday, May 29.
The new lending rates will come into effect from Saturday, May 30.
With the latest revision, Bank of Maharashtra MCLR rates will range from 7.5% to 8.85%, based on the tenure of the loan. Before the revision, the lending rates ranged from 7.65% to 8.85%. Marginal cost of funds-based lending rate (MCLR) is the minimum interest rate a bank must charge for loans, introduced by the RBI in 2016.
Check Latest Bank Of Maharashtra Lending Rates
The lender has cut down overnight and raised one month MCLR rates. Overnight tenure lending rate has been revised to 7.5% from 7,65%. One-month MCLR rate has been hiked to 8.30% from 8.20%. The interest rate for three month and six month tenures is at 8.55% and 8.7% respectively. Bank of Maharashtra's MCLR interest rate for one year is 8.85%.
ALSO READ: HDFC Bank Cuts MCLR On Select Tenures: Check New Lending Rates
Bank Of Maharashtra To Raise Rs 7,500
The revison comes weeks after lender plans to raise Rs 7,500 crore via the issuance of equity and debt instruments, after declaring its financial results for the fourth quarter of fiscal 2025-26, according to an exchange filing on Monday.
The bank approved the raising of capital up to Rs 7,500 crore by issuing equity shares on the basis of preferential allotment or through a QIP (Qualified Institutional Placement), FPO (Follow-on Public Offer), rights, ESPS issue and more. It is further considering Tier I and Tier II bonds. This is subject to approval by regulatory authorities.
Bank of Maharashtra sanctioned the issuance of long-term infra bonds amounting to Rs 10,000 crore during the fiscal period of 2026-27 in multiple tranches. It has also sanctioned raising long-term funds by issuing foreign currency bonds up to $500 million in multiple tranches during fiscal 2026-27.
The state-owned bank posted 34.9% rise in net profit to Rs 2,014 crore for the fourth quarter ended March 2026, with rising interest income. The Pune-based lender had posted a net profit of Rs 1,493 crore in the January-March period a year ago.
ALSO READ: Bank of Maharashtra To Raise Up To Rs 7,500 Crore Via Equity, Debt Instruments
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