Bank of Baroda, Bank of Maharashtra slash home loan rates across tenors
Following other banks rate cut moves, Bank of Baroda and Bank of Maharashtra have lowered their home loan rates across tenors on Thursday.
Bank of Baroda has revised its marginal cost of funds based lending rate (MCLR) on loans with various tenors in the range of 8.10% to 8.65%, cited the bank in a filing to the BSE.
Bank of Baroda has set one-year MCLR rate at 8.35% as against 9.05% earlier while the MCLR rate for five-year tenor is 8.65% as compared to 9.25% earlier.
At 12:23 hours, the Bank of Baroda was trading up 1.79% or Rs 2.65 at Rs 150.65 on the BSE.
See LIVE updates of the stock of Bank of Baroda here-
Similarly, Bank of Maharashtra has revised its MCLR rate for loans with various tenors in the range of 8.75% to 8.95%.
Bank of Maharashtra has revised the one-year MCLR rate to 8.95% while the overnight MCLR rate now stands at 8.75%, the bank said in a filing to the BSE.
At 12:25 hours, the stock of Bank of Maharashtra was trading up 0.34% or Rs 0.10 at Rs 29.45 on the BSE.
See LIVE updates of the stock of Bank of Maharashtra here-
The new MCLR rates of Bank of Baroda and Bank of Maharashtra will be effective from January 7 this year.