UNION BANK OF INDIA REDUCES EXTERNAL BENCHMARK (REPO) LENDING RATE (EBLR) BY 25 BPS FOR PERSONAL/RETAIL AND MSE LOANS



by Riya

Mumbai – October, 2019: Union Bank of India has today reduced the External Benchmark Lending Rate (EBLR) by 25 bps to 8.00% taking into consideration the recent change in Repo Rate by RBI. Effective rates for various schemes shall be at EBLR+ Premium/Discount for the product.

Thus, Interest rates on Home Loans and Auto Loans are now at 8.2 percent and 8.6 percent respectively.

Union Bank of India introduced External Benchmark based Lending Rate (EBLR)   for all new floating rate loans to Retail and Micro & Small Enterprises segment, in line with RBI guidelines. With effect from 01.10.2019, all new floating rate loans to these segments are linked to RBI Policy Repo Rate.

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