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Business Economy


Union Bank reduces MCLR by upto 15 basis points across various tenors

Union Bank reduces MCLR by upto 15 basis points across various tenors

Hyderabad, Aug 10 (UNI)Union Bank of India has reduced Marginal Cost of Funds- based Lending Rate (MCLR) by upto 15 basis points across various tenors.

One year MCLR now stands at 7.25 percent, down from 7.40 percent, the Bank said in a release here on Monday.

Revised MCLR will be effective from Tuesday.

This is the 14th consecutive rate cut announced by the Bank since July.

UNI KNR CS 1623

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