Representational Image
Representational Image
FPJ photo

UCO Bank has reduced its Marginal Cost of Funds Based Lending Rates (MCLR) by 25 basis points across various tenors, with effect from April 10 this year.

Now the revised 1- year MCLR stands at 7.95%, reduced from 8.20%. The revised overnight, one-month, three-months and six months tenor MCLR now stands at 7.35%, 7.50%, 7.60% and 7.85% respectively i.e. 25 basis points lower than their existing levels.

As a result, all MCLR linked loans will become cheaper now. The Bank has also reduced the Fixed Deposit rates across all the tenors between 0.25% to 0.50%.

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