Bank of Baroda revises MCLR; effective from June 12

11 Jun 2025 , 11:29 AM

Bank of Baroda Limited on Tuesday announced a revision in its marginal cost of funds based lending rates (MCLR). These rates shall be effective June 12, 2025. The bank has revised the rates for multiple tenors. Therefore, interest rates on loans linked to MCLR shall also be affected.

The bank has not announced any change in its overnight MCLR, it remains at 8.15%. The one-month MCLR has been reduced to 8.30% against 8.35%. 

The bank has also announced a similar reduction of 0.05% in three-month MCLR at 8.50% against 8.55%. Furthermore, six-month MCLR has been revised from 8.80% to 8.75%.

The bank has also changed its one-year MCLR to 8.90% from 8.95%.

The changes in MCLR may benefit borrowers with loans linked to MCLR. They may be eligible for lower rates of interest on home loans, personal loans, and business loans.

Last week, the Reserve Bank of India (RBI) announced slashed interest rates by a larger-than-expected 50 bps. Additionally, it also reduced the cash reserve ratio for banks to make more lending money available. This is yet another initiative to boost the economy.

With the latest reduction, RBI has dropped interest rates by a total of 100 basis points in 2025. 

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