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United Bank of India has slashed interest rates on medium- and small-term loans above Rs 1 crore by 75-275 basis points.
The revised rates are effective from September 10, said a press statement issued by the bank.
The bank had already reduced the rates for loans below Rs 1 crore by 50-400 basis points effective August 15.
United Bank has extended the concessional rate it offers to rice mills to all other agro-processing units such as flour, oil and dal mills by reducing the spread by 150-175 basis points.
The revised rates are effective from September 10, said a press statement issued by the bank.
The bank had already reduced the rates for loans below Rs 1 crore by 50-400 basis points effective August 15.
United Bank has extended the concessional rate it offers to rice mills to all other agro-processing units such as flour, oil and dal mills by reducing the spread by 150-175 basis points.
1 comments:
This is really a good news for the people who are planning to have loans or have taken loans. Cutting rates on loan really going to benefits people solving their financial problems.
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