Union Bank of India hikes MCLR by 25 bps across loan tenures

Union Bank of India hikes MCLR by 25 bps across loan tenures

After the revision, the bank's lending rates are in the range of 7.90-9.00%

FPJ Web DeskUpdated: Monday, February 13, 2023, 12:42 PM IST
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Union Bank of India hikes MCLR by 25 bps across loan tenures | Image: Union Bank of India (Representative)

The Union Bank of India has hiked its marginal cost of funds-based lending rates by 25 basis points across tenures, effective Saturday, according to the bank's website.

After the revision, the bank's lending rates are in the range of 7.90-9.00%.

On Saturday, Union Bank of India hiked its external benchmark-based lending rate by 25 bps to 9.30%.

In January, the state-owned bank hiked the MCLR by 15 bps across tenures.

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