Bank of Maharastra
lowers interest rate (MCLR) on funds. For the fifth month in a row, the bank lowered the fund-based loan interest rate(MLCR). Interest rates have bee reduced to 6.80% for one day, 6.90% for one month, and 7.40% for one year. Also, Agricultural Gold Loan provided at MXLR rate of 1-year term 7.40%. Reduced interest rates on retail gold loans to 7.50%.
HDFC Bank :
HDFC Bank slashed interest rates on all types of loans up to 0.10 percent. The bank had cut rates by 0.20 percent last month. The bank’s new MCLR will be 7% per annum. Public sector UCO Bank, Canara Bank, and Indian Overseas Bank have also slashed interest rates.