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United Bank of India MCLR Rates, United Bank of India Base Rate – Jul 2017

Last Updated 08th Jul 2017

United Bank of India MCLR Rate – Current Rate, Past Trend

Current MCLR of United Bank of India ranges from 8.20% to 8.75% depending on the reset frequency of the loan. Rates are revised every month.

United Bank of India MCLR, Base Rate Tenure
8.20% Overnight
8.25% 1 Month
8.40% 3 Month
8.55% 6 Month
8.75% 1 Year
Base rate - 9.65% Past Trend
United Bank of India Interest Rates
Home Loan Interest Rates 9.55% * Floating Detail
Loan Against Property Rates 11.30% * Floating Detail
Fixed Deposit Interest Rates 4.00% to 6.25% * Detail

Past Trend MCLR Rate of United Bank of India

United Bank of India MCLR Rate History

Revised
Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year
MCLR
2 Year
MCLR
3 Year
MCLR
5 Year
MCLR
16th Jun 17
8.20%
8.25%
8.40%
8.55%
8.75%
-
-
-
15th May 17
8.20%
8.25%
8.40%
8.60%
8.75%
-
-
-
15th Apr 17
8.30%
8.35%
8.45%
8.65%
8.80%
-
-
-
06th Jan 17
8.30%
8.35%
8.45%
8.65%
8.80%
-
-
-
17th Oct 16
9.20%
9.25%
9.30%
9.35%
9.40%
-
-
-
01st Jul 16
9.25%
9.30%
9.35%
9.40%
9.45%
-
-
-
01st Jul 16
9.25%
9.30%
9.35%
9.40%
9.45%
-
-
-
01st Apr 16
9.25%
9.30%
9.35%
9.40%
9.45%
-
-
-

United Bank of India MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, United Bank of India decides its own MCLR Rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR Rate of any bank
  • Effective 1st April 2016, the minimum base rate is determined based on marginal cost of funds and not on overall cost of funds. United Bank of India has different MCLR base rates ranging from 8.20% to 8.75% for different tenures

Changes in MCLR of United Bank of India

  • MCLR rate can be revised by United Bank of India every month
  • Note that it is not mandatory for United Bank of India to revise its rate every month and it may choose to retain the same rate for a longer period

United Bank of India home loan interest rate and MCLR

  • Every floating rate loan sanctioned by United Bank of India is benchmarked to its MCLR Rate for a particular tenure, say 1 month or 3 month or 6 months
  • Shorter duration loans (such as cash credit, OD facility, overnight loans) are linked to shorter duration MCLR rate while longer duration loans (such as home loan, loan against property, vehicle loan) are linked to longer duration MCLR rates
  • The applicable rate of interest on a floating rate loan will consist of two parts - the applicable benchmark rate and the spread or margin above the benchmark
  • Your loan from United Bank of India will be repriced periodically depending upon the tenure of the MCLR to which it is linked. So, a home loan linked to 1 year MCLR rate of United Bank of India will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 9.45%. This loan will initially be priced at 9.95%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.2%, the loan will be priced at 9.7% for the next year

Past trend of United Bank of India Base Rate vs RBI Repo Rate

Date RBI Rates Bank Rates
08th Feb 17 0%
07th Dec 16 0%
04th Oct 16 0.25%
05th Apr 16 0.25%
12th Oct 15 9.65% 0.25%
29th Sep 15 0.5%
19th Jun 15 9.90% 0.1%
02nd Jun 15 0.25%
04th Mar 15 0.25%
15th Jan 15 0.25%
15th Jan 15 10.00% 0.5%
13th Feb 14 10.50% 0.25%
28th Jan 14 0.25%
18th Dec 13 0%
29th Oct 13 0.25%
20th Sep 13 0.25%
03rd May 13 0.25%
19th Mar 13 0.25%
25th Feb 13 10.25% 0.2%
29th Jan 13 0.25%
23rd Apr 12 10.45% 0.15%
17th Apr 12 0.5%
25th Oct 11 0.25%
16th Sep 11 0.25%
03rd Aug 11 10.60% 0.35%
26th Jul 11 0.5%
13th Jul 11 10.25% 0.25%
16th Jun 11 0.25%
06th May 11 10.00% 0.55%
03rd May 11 0.5%
17th Mar 11 0.25%
25th Jan 11 0.25%
02nd Jan 11 9.45% 0.5%
15th Dec 10 8.95% 0.55%
08th Nov 10 8.40% 0.15%
02nd Nov 10 0.25%
16th Sep 10 0.25%
27th Jul 10 0.25%
02nd Jul 10 0.25%
01st Jul 10 8.25%

United Bank of India Base Rate Vs. RBI Repo Rate Trend

About United Bank of India

  • United Bank of India's registered office is located at United Tower, 11, Hemanta Basu Sarani,Kolkata West Bengal 700001 .
  • United Bank of India's management is led by its CEO Mr. P. Srinivas.
  • Its current Base Rate is 9.65%, which was last revised on 12th Oct 15.
United Bank Of India Base Rate, PLR
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