Union Bank of India has reduced marginal cost of funds based lending rate (MCLR) with effective from January 16, 2020. The Bank has reduced the 1 year, 6 month 3 month and 1 month MCLR to 8.30% p.a., 8.20% p.a., 8.10% p.a. and 8.00% p.a. respectively. The Bank has also reduced Overnight MCLR to 7.50% p.a.
Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories - Deposits, Loans and Advances, and Remittances & Collections. Its segments include treasury operations, corporate & wholesale banking, retail banking and other banking operations.
