United Bank of India reduces interest rates on small and medium term loans
By Vaibhav Aggarwal
Sep 12, 2012
Print    Email    RSS   

The Kolkata headquartered United Bank of India has reduced interest rates on select loans by up to 275 basis points ( bps). It should be noted that a rate cut of 100 bps leads to a reduction of 1 percent in interest rates.

The bank issued a press statement to this effect according to which the public sector lender has brought down the interest rates on small and medium term loans of more than Rs. 1 crore by 75 to 275 bps. The new interest rates have become applicable from September 10, 2012.

Earlier, the bank had slashed the interest rates on loans less than Rs. 1 crore by 50 to 400 bps, which became applicable from August 15.

In addition to this, the bank is providing the concessional rate it extends to rice mills to all other agricultural based processing units like flour mills, mills for pulses, oil mills etc by bringing down its spread by 150 to 175 bps.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Personal Loan Vs. Cash advance from credit...
Get a loan to meet your any personal need
Benefits and drawbacks of personal loans...
Credit profile and its effect on loan...
Carnival of Indian Personal Finance Blogs #2

HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive