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

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

India Blooms News Service | @indiablooms | 10 Aug 2020, 06:33 pm

Hyderabad/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.