Union Bank of India cuts lending rates

Following the Reserve Bank of India’s (RBI’s) decision to reduce policy repo rate by 50 basis points, Union Bank of India has revised its key lending rates with effect from June 11.

These changes include downward revision of External Benchmark Lending Rate (EBLR) and Repo Linked Lending Rate (RLLR) by 50 basis points. 

“With this move, Union Bank of India has completely aligned its EBLR and RLLR with the recent RBI rate cut which will be beneficial to new and existing Retail (Home, Vehicle, Personal, etc.) and MSME borrowers,” the bank said in a statement.