Bank of Maharashtra FD MCLR: The bank said in a statement that the increase in interest rate will be applicable on FD and special saving schemes as per the tenure decided by the bank. The bank has implemented the new FD rate from October 12.
Bank of Baroda Interest Rates: Public sector Bank of Maharashtra (BOM) has increased the marginal cost of funds based interest rate (MCLR) by 0.1 percent for select periods. In the information given by the bank to the stock market, it was told that the one-year MCLR (MCLR), used to decide the interest rate for most loans like vehicle, personal and home loans, has been increased from 8.60 percent. It has been reduced to 8.70 percent.
The new rate was implemented from October 12
The new MCLR has been implemented from October 11, 2023. On the other hand, the bank has increased its FD rates by 1.25 percent. The bank said in a statement that the increase in interest rate will be applicable on FD and special saving schemes as per the period decided by the bank. The bank has implemented the new FD rate from October 12. The bank said that the interest rate on deposits of 46 to 90 days has been increased by 1.25 percent. This will encourage individuals and business sectors to save more.
6.50 percent interest on one year deposit
The bank will give 6.50 percent interest on one year deposits. For deposits of more than one year, the interest rate has been increased by 0.25 percent to 6.25 percent. It was told by the bank that senior citizens will get additional interest of 0.5 percent on FD. They will be given an attractive interest of 7.5 percent on special savings of 200 to 400 days. The bank said that the attractive interest rates provide a great option to both short-term and long-term saving customers.
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