Live Markets »IPO»IPO News»IPO News Details
IPO News Details
Back

United Bank of India cuts MCLR by 5 basis points, effective Thursday

Press Trust of India / New Delhi 17 Apr 19 | 08:30 PM

State-owned United Bank of India has reduced its MCLRs by 5 basis points across tenures, effective Thursday.

The bank's asset-liability management committee in its meeting on Tuesday revised tenure-based MCLRs of the bank to be effective from Thursday, it said in a regulatory filing.

Widgets Magazine

One-year marginal cost of funds-based lending rate (MCLR) has been reduced to 8.80 per cent from 8.85 per cent.

The one-year MCLR is the benchmark against which most of the consumer lending, such as auto, personal and home loans, are priced.

Among others, the six-month and three-month MCLRs have been cut to 8.60 per cent and 8.50 per cent, respectively.

Likewise, the one-month and overnight MCLR rates are reduced by five basis points (bps) each, the bank said.

One basis point is equal to one-hundredth part of a percentage.

The banks review their MCLRs every month.

Widgets Magazine

Sensex

Company Price Gain (%)
ICICI Bank431.505.09
Larsen & Toubro1,543.654.60
Bharti Airtel353.304.40
Vedanta163.854.20
Tata Motors182.154.09
Widgets Magazine

Poll

Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine