UBI reduces lending rate by 25 bps

Kolkata, Nov 3 (UNI) United Bank of India has decided to pass on the benefits of 25 basis points cut in lending rate to all advances linked with PLR with effect from today following the recent liquidity infusion measures announced by the Reserve Bank of India.

This will be applicable to education loan, housing loan, smes and other loans.

The reduced lending rate will be applicable for existing loan accounts too.

Further cut in the rate of interest on advances will be considered by the UBI commensurate with decrease in the rate of deposits in the next week.

UNI PC KK RN1934