Union Bank reduces MCLR – The Hindu BusinessLine

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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 tenors, respectively. Overnight MCLR now stands at 6.60 per cent (against 6.75 per cent earlier) and 1- month MCLR now stands at 6.70 per cent (6.75 per cent). The revised MCLR is effective from January 11, 2021.