UCO Bank reduces its MCLR Rates

UCO Bank has reduced its Marginal Cost of Funds Based Lending Rates (MCLR) by 10 basis points across various tenors, with effect from March 10, 2020.

The revised one-year MCLR stands at 8.20%, down from 8.30% existing. The revised Overnight, One-month, Three-months and Six Months tenor MCLR now stands at 7.60%, 7.75%, 7.85% and 8.10% respectively, 10 basis points lower than their existing levels.

As a result, all MCLR linked loans will become cheaper now.