Best Home And Car Loan Offers In India By Union Bank, With Lowest Interest Rates

New Delhi: Home loan and auto loan become cheaper as  Union Bank has great news. This public bank has cut its interest rates. From next Monday, you can take advantage of this low interest loan.

Public sector Union Bank of India on Friday announced a 0.20 percent reduction in the marginal cost money-based lending rate (MCLR) for various periods. New rates will be applicable from July 11.

The bank said in a release that the revised one-year MCLR will be 7.40 percent instead of 7.60 percent. The three-month and six-month MCLR has been reduced to 7.10 percent and 7.25 percent, respectively. The rate has been cut by the bank 13 consecutive times since July last year.

Earlier, the country’s largest bank SBI on Friday reduced the MCLR by 0.05 to 0.10 percent for a short period. Indian Overseas Bank (IOB), another public sector bank, has cut the MCLR by 0.25 percent for all periods.