Public Sector Banks revises interest rates in line with RBI’s repo rate cut
Public Sector Banks like UCO, BoB, Indian Bank revise interest rates after RBI cuts repo rate to 6%, aligning MCLR, repo-linked rates, and G-Sec benchmarks.
New Delhi: Major Public-Sector Banks, including UCO Bank, Bank of Baroda, Indian Bank, and Bank of India, have revised their interest rates. The Reserve Bank of India has announced a 25-basis-point cut in the repo rate, bringing it to 6 percent.
Meanwhile, the Liquid adjustment facility will stand at 5.75 percent, and the Bank rate is at 6.25 percent.
Here are the Public Sector Banks that have changed their interest rates:
Bank of Baroda has reviewed Marginal Cost of Funds Based Lending Rate( MCLR) effective from 12 April 2025.
Indian Bank has revised the Repo Benchmark rate and repo-linked benchmark Lending Rates from the existing 6.25 percent to 6.00 percent and 9.05 percent to 8.70 percent, respectively.
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Similarly, Bank of India has also revised the Repo Based Lending Rates by 25 basis points to 8.85 percent from 9.10 percent.
Additionally, UCO Bank has also revised the Benchmark rates in G-Sec linked rate and Repo Linked rates, effective from 10 April.
UCO G-Sec for one year is at 6.57 percent and for 10 years it is at 6.73 percent. Repo rate is 8.80 percent for UCO Float and 6.00 percent for UCO prime.
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