November 6, 2008, Ratekhoj.com. United Bank of India, a public sector bank in India, has announced in a press release that it has decided to pass on the benefits of 25 bps (0.25%) cut in lending rate to all advances linked with PLR with effect from 3rd November, 2008. This will be applicable to Education loans, Housing Loans, Car Loans, SMEs and all other loans.

The reduced lending rate will be applicable for existing Loan Accounts also.

The bank also announded that further cut in the rate of interest on advances will be considered commensurate with decrease in the rate of deposits in the next week.

Comments