Hyderabad, Sep 11: Union Bank of India on Friday announced a cut in the Marginal Cost of Funds- based Lending rate (MCLR) by 5 basis points across all five tenors.
The reduction in MCLR with come into effect from September 11, 2020, across all five tenors ?overnight, One month, three months, six months and one year, the bank said in a release here.
This is the fifteenth consecutive rate cut announced by the bank since July 2019.
MCLR now for these tenors are 6.75 per cent for overnight, 6.75 per cent for one month, 6.90 for three months, 7.05 per cent for six months and 7.20 per cent for one year. (UNI)
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