UCO Bank Revises One-Year MCLR to 8.80%

The one-year MCLR is the most widely used benchmark for loans such as housing, personal, and business credit, making this adjustment significant for borrowers. Overnight, one-month, three-month, and six-month MCLR rates remain unchanged at 7.95%, 8.20%, 8.45%, and 8.70% respectively. In addition, the three-month Treasury Bill Linked Rate (TBLR) has been cut to 5.40% from 5.45%, while the UCO G-Sec Rate (1 year) has been revised downward to 5.59%.  

Notable updates  
• One-year MCLR reduced to 8.80% from 8.85%  
• Other MCLR tenors unchanged: overnight 7.95%, one-month 8.20%, three-month 8.45%, six-month 8.70%  
• Three-month TBLR cut to 5.40% from 5.45%  
• UCO G-Sec Rate (1 year) revised to 5.59%  
• Ten-year G-Sec yield increased slightly to 6.66% from 6.61%  

Major takeaway  
The marginal reduction in UCO Bank’s one-year MCLR offers slight relief to borrowers, signaling cautious optimism in lending conditions while maintaining stability across shorter tenors.  

Sources: UCO Bank filings, BankBazaar, FilingReader