ENGLISH

UNION BANK OF INDIA REDUCES MCLR

DS

Union Bank of India has reduced Marginal Cost of Funds- based Lending rate (MCLR) by 15 basis points and 5 basis points in the overnight and 1 Month tenor respectively. Overnight MCLR now stands at 6.60%, down from 6.75%

and 1 Month MCLR now stands at 6.70%, down from 6.75%. Revised MCLR will be effective from 11th Jan 2021.

Revised MCLR, effective from 11th Jan, 2021 is as under:

Tenor

MCLR (%)

Overnight MCLR 6.60%

1 Month MCLR 6.70%

3 Months MCLR 6.90%

6 Months MCLR 7.05%

1 year MCLR 7.20%