United Bank of India reduces MCLR by 10 to 45 bps across various tenors

The Marginal Cost of Funds based Lending Rate (MCLR) of the Bank for the month of January, 2020 has been reduced by 10 to 45 bps across various tenors. MCLR for one year is reduced by 10 bps to 8.30% and the Overnight MCLR has been reduced by 45 bps to 7.50 %. This rate is the lowest amongst Public Sector Banks.

The revised MCLR for various tenors is effective from 16.01.2020 till further review/revision. All MCLR linked loans sanctioned on or after 16th January, 2020 will be priced at revised MCLR.