Union Bank of India reduces MCLR
Mumbai – Jan 11, 2021: Union Bank of India has reduced Marginal Cost of Funds- based Lending rate (MCLR) by 15 basis points and 5 basis points in the overnight and 1 Month tenor respectively. Overnight MCLR now stands at 6.60%, down from 6.75%, and 1 Month MCLR now stands at 6.70%, down from 6.75%. Revised MCLR will be effective from 11th Jan 2021.
Revised MCLR, effective from 11th Jan 2021 is as under:
| Tenor | MCLR (%) |
| Overnight MCLR | 6.60% |
| 1 Month MCLR | 6.70% |
| 3 Months MCLR | 6.90% |
| 6 Months MCLR | 7.05% |
| 1 year MCLR | 7.20% |