Bank of Maharashtra has upped its marginal cost of funds-based lending rate (MCLR) across various tenors by 20-30 basis points with effect from February 13.
The Pune-headquartered public sector bank has upped the one-year MCLR by 20 basis points (bps) from 8.20 per cent to 8.40 per cent and the six-months MCLR by 30 bps from 8 per cent to 8.30 per cent.
Banks price corporate loans with reference to MCLR.
MCLR is an internal benchmark comprising of marginal cost of funds, negative carry on account of cash reserve ratio, operating costs and tenor premium.