Union Bank of India cuts MCLR by 20bps across tenors
Mumbai, July 10 : Union Bank of India on Friday announced reduction in its marginal cost of funds-based lending rate (MCLR) by 20 points across all tenors.
Post the reduction, MCLR across tenors ranges from 6.85 per cent to 7.40 per cent.
"One year MCLR now stands at 7.40 per cent, down from 7.60 per cent. Revised MCLR will be effective from 11th Jul 2020. This is the 13th consecutive rate cut announced by the bank since July 2019,"
Banks generally review MCLR every month.
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