United Bank of India Base Rate, United Bank of India MCLR Base Rate Past Trend

Current United Bank of India MCLR Base Rate

Last Updated 26th Nov 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Tenure MCLR, Base Rate
Overnight 9.20%
1 Month 9.25%
3 Month 9.30%
6 Month 9.35%
1 Year 9.40%
Current MCLR base rate of United Bank of India ranges from 9.20% to 9.40% depending on the reset frequency of the loan. Rates are revised every month.
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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 6.75% * Detail

Past Trend Base Rate of United Bank of India

United Bank of India base 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
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 base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, United Bank of India decides its own base rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR base 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 9.20% to 9.40% for different tenures

Changes in MCLR Base rate 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 base 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 Base Rate
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
12th Oct 15 9.65% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
19th Jun 15 9.90% increased by 1.65%
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
15th Jan 15 10.00%
13th Feb 14 10.50% increased by 0.5%
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
25th Feb 13 10.25% decreased by 0.25%
29th Jan 13: 0.25% repo cut by RBI
23rd Apr 12 10.45% increased by 0.2%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
03rd Aug 11 10.60% increased by 0.15%
26th Jul 11: 0.5% repo hike by RBI
13th Jul 11 10.25% decreased by 0.35%
16th Jun 11: 0.25% repo hike by RBI
06th May 11 10.00% decreased by 0.25%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
25th Jan 11: 0.25% repo hike by RBI
02nd Jan 11 9.45% decreased by 0.55%
15th Dec 10 8.95% decreased by 0.5%
08th Nov 10 8.40% decreased by 0.55%
02nd Nov 10: 0.25% repo hike by RBI
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.25% decreased by 0.15%

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.
  • Highest fixed deposit interest offered by United Bank of India is 6.75% per annum on deposits.
  • Its current Base Rate is 9.65%, which was last revised on 12th Oct 15.
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News - Dec 2016
09th Aug 16 United Bank of India Q1 net down 27 per cent, bad loans rise
United Bank of India reported nearly 27 per cent fall in its net profit to Rs. 38.32 crore for the quarter ended June 30 due to rise in bad loans. The total income of the bank fell by 2.67 per cent to Rs. 2819.37 crore in the June quarter of FY17 from Rs. 2896.75 crore in the June quarter of previous year. Gross NPAs as a percentage of total loans increased to 14.29 per cent in the first quarter of current financial year. Similarly, the net NPA ratio increased to 9.85 per cent, up from 6.30 per cent during same period of previous fiscal.
20th Jul 16 Govt to infuse up to Rs 810 Cr capital in United Bank of India
United Bank of India said that the government has decided to infuse up to Rs 810 crore capital into the bank in the current fiscal year. Government has decided to allocate 75 per cent of the capital to the bank immediately and remaining 25 per cent will be infused depending upon the performance of the bank by the end of 2016. Government has already announced its plan to infuse Rs. 22915 crore in 13 public sector banks like SBI, PNB, Bank of India and Central Bank of India.
15th Jan 16 United Bank of India to cut bulk deposit rates by up to 1.5%
UBI has reduced interest rates by 25 bps -50 bps for deposits up to Rs 1 Cr and by 25 bps to 150 bps for deposits above Rs 1 crore
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