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UCO bank cuts MCLR across tenors

This will lead to all MCLR-linked loans becoming cheaper by way of similar reductions, UCO Bank said.

Published: 10th December 2019 04:57 PM  |   Last Updated: 10th December 2019 05:57 PM   |  A+A-

For representational purposes. (File | Reuters)

By PTI

KOLKATA: UCO Bank has lowered its Marginal Cost of Funds Based Lending Rates (MCLR) by 10 basis points across tenors with effect from Tuesday.

ALSO READ: After SBI, now Bank of Baroda lowers MCLR lending rates by 20 basis points

The revised one-year MCLR now stands at 8.30 per cent, down from the existing 8.40 per cent, the state-run lender said in a release.

The revised overnight, one-month, three-month and six-month tenor MCLR have been slashed by 10 basis points, it said.

ALSO READ: SBI lowers MCLR based lending rates by 10 basis points

This will lead to all MCLR-linked loans becoming cheaper by way of similar reductions, UCO Bank said.



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