Money

Union Bank of India, UCO Bank reduce MCLR by 20 bps and 10 bps

Union Bank of India and UCO Bank have reduced the marginal cost of fund based lending rates (MCLR) by 20 basis points (bps) and 10 bps respectively across all the bases.

In the case of Union Bank, the revised rates will be applicable from July 11 and UCO Bank from July 10. In the case of Union Bank, the revised one-year rate will be 7.4 percent, down from 7.6 percent.

UCO Bank’s revised one-year MCLR will be 7.50 percent, down from the current 7.60 percent.



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