Union Bank of India revises lending, deposit rates

Union Bank of India has increased its benchmark prime lending rate by 50 basis points to 13.25%, effective today, it said in a statement issued during the weekend.

Union Bank of India has increased its benchmark prime lending rate by 50 basis points to 13.25%, effective Monday, it said in a statement issued during the weekend.

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The bank has also raised retail term deposit rates across various maturies between 75 and 100 basis points and interest rate on one-year deposits to 8% from 7.25%, it said.