by Priya Jadhav
Union Bank of India will continue to offer Home Loan and Vehicle Loan products linked to MCLR.
Mumbai – August 23, 2019: Union Bank of India today announced introduction of Repo Linked Lending Rate (RLLR) to new Home Loan and Vehicle Loan Borrowers in order to provide better interest rate transmission to its Customers.
With the introduction of Repo Linked Home Loans, Home Loans of above Rs. 30 lacs to Rs. 75 lacs will now be available at an attractive interest rate of 8.25% for Borrowers with good credit score. Thus, the Home Loan Linked to Repo Rate provides 35 Bps benefits over the existing Home Loan.
Also, with Repo Linked Vehicle Loan, Vehicle Loans will now be available at an attractive rate of 8.60% to borrowers with good credit score. Thus, the Vehicle Loan linked to Repo Rate is 40 Bps cheaper than the existing.