Mumbai
- March 09, 2020: Union
Bank of India today announced reduction in Marginal Cost of Funds - based Lending rate
(MCLR) by 10 basis points across all tenors w.e.f. 11th March
2020 till 31st March, 2020. One year MCLR now stands at 8.00%,
down from 8.10%. This is the ninth consecutive rate cut announced by Union Bank
of India, since July 2019.
Revised
MCLR, effective from 11th March, 2020 is as under:
|
Tenor
|
MCLR (%)
|
|
Overnight
MCLR
|
7.55%
|
|
1
Month MCLR
|
7.60%
|
|
3
Months MCLR
|
7.70%
|
|
6
Months MCLR
|
7.85%
|
|
1
year MCLR
|
8.00%
|
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