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Bank of Baroda, Union Bank of India reduce lending rates across all tenors

Bank of Baroda has revised its one-year MCLR to 7.65 per cent from 7.80 per cent

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The recent cuts in MCLR by banks have come after the Reserve Bank of India (RBI) slashed repo rate by 40 basis points to 4 per cent on May 22

BS Web Team PTI New Delhi

2 min read Last Updated : Jun 10 2020 | 7:34 PM IST

State-run lenders Bank of Baroda (BoB) and Union Bank of India (UBI) on Wednesday announced cut in their marginal cost of funds-based lending rates (MCLR) across all tenors.

While the BoB's MCLR cut of 15 basis points (bps) is effective from June 12, the 10 bps revision in UBI's rates would come into force on June 11.

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Bank of Baroda has revised its one-year MCLR to 7.65 per cent from 7.80 per cent, a report by the news agency Press Trust iof

Topics : Indian banking sector Bank of Baroda lending rate Union Bank of India