Union Bank of India raises MCLR rates, increases EMI on housing, car and personal loans

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The Union Bank of India’s MCLR, which previously stood at 7% overnight, has now increased to 7.15%. Now the interest rates for one month, three months and six months are 7.30%, 7.50% and 7.70%. Now the 1-year MCLR, 2-year MCLR and 3-year MCLR are 7.90%, 8.10% and 8.25% respectively. The new rates will apply from October 12, 2022.

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