In a filing to the Bombay Stock Exchange, UBI said, “The bank has revised downwards the Marginal Cost of Fund based Lending Rate (MCLR) with effect from January 06, 2017.”
The state-run lender has fixed its MCLRs for loans of different time intervals ranging from ‘overnight’ to ‘one-year’ duration. These rates are varing in the range of 8.30 per cent to 8.80 per cent.
OBC has finalised 8.30 per cent rate for its ‘overnight’ MCLR benchmark while 8.35 per cent rate has been decided for its ‘one-month’ MCLR, the bank said in a statement.
On the other hand, the public sector lender has set 8.45 per cent rate for its ‘three-month’ period MCLR, against ‘six-months’period MCLR which has been set at 8.65 per cent.
The bank further said that, it’s ‘one-year’ period MCLR now has been set at 8.80 per cent rate.
Meanwhile, shares of the bank were trading at Rs 20.55 apiece, up 0.98 per cent, from previous close on BSE at 12:12 hours.