Union Bank of India, UCO Bank reduce MCLR by 20 bps and 10 bps

Union Bank of India and UCO Bank have reduced their marginal cost of funds-based lending rates (MCLR) by 20 basis points (bps) and 10 bps, respectively, across all tenors. 

The revised rates in case of Union Bank will come into effect from July 11 and UCO Bank from July 10. In case of Union Bank, the revised one-year rate will be 7.4 per cent, down from 7.6 per cent. 

UCO Bank’s revised one-year MCLR will be 7.50 per cent, down from the current 7.60 per cent.