Bank of Maharashtra Keeps One-Year MCLR Steady at 8.85% Amid Rate Pause

Bank of Maharashtra, a leading public sector lender, announced that its one-year MCLR will remain unchanged at 8.85% as of October 2025. The one-year MCLR is a key benchmark for pricing retail loans, including home and auto loans. The bank’s decision reflects a cautious approach amid a pause in rate hikes by the Reserve Bank of India (RBI).

The unchanged rate suggests that borrowing costs for consumers and businesses will remain stable in the near term. This move also indicates that the bank is balancing between maintaining credit growth and managing funding costs, especially as inflation shows signs of moderation and liquidity conditions remain tight.

• One-year MCLR: Unchanged at 8.85%  
• Effective date: October 2025  
• Impact: Stable borrowing costs for retail and corporate loans  
• Policy context: Aligns with RBI’s rate pause stance  
• Lending outlook: Focus on credit growth and risk management  

Sources: Bank of Maharashtra, CodeForBanks, BankBazaar