New Bank of Maharashtra Interest Rates: MCLR Cuts Effective Jan 31, 2026

Pune / January 31, 2026 – Bank of Maharashtra has revised its Marginal Cost of Funds Based Lending Rate (MCLR) following a routine benchmark review. The updated rates are effective from January 31, 2026, and signal a slight reduction in short-term lending costs for borrowers.

The overnight MCLR has been reduced from 7.95% to 7.90%, while the one-month MCLR drops from 8.30% to 8.20%. The three-month, six-month, and one-year MCLR rates remain unchanged at 8.45%, 8.70%, and 8.85%, respectively.

This revision is expected to benefit borrowers with floating-rate loans linked to MCLR, including home loans, personal loans, and corporate lending. Customers may notice a small decrease in interest rates on loans that reset based on these benchmarks.

Bank of Maharashtra, headquartered in Pune, continues to focus on competitive lending, customer-centric financial solutions, and transparency in its operations. As a key public sector bank, it plays a vital role in supporting financial inclusion and economic growth across India.

Borrowers are advised to check with the bank for specific impacts on their loans.