Monday, August 8, 2011

Hike in lending rates of Union Bank

Most of the banks have already reacted to the hike in the policy rates of the banks by increasing their lending rates; now finally leading public sector lender Union Bank of India has also announced a hike in its lending rates.

The bank has increased its Base rate by 50 basis points and now it stands at 10.75% but the bank has increased the BPLR only by 25 basis points and now it reads 14.50%.

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