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UCO Bank MCLR
UCO Bank MCLR ranges from 8.20% - 8.95% w.e.f 10.07.2024 for overnight to 1-year tenures. MCLR is the minimum rate below which the bank cannot levy interest rates for loans. These MCLR rates are the deciding factor for the interest rates on different loans.
MCLR Rate by Top Banks
MCLR is the abbreviation of the Marginal Cost of the Fund-Based Lending Rate. It is an internal reference rate that the Reserve Bank of India (RBI) fixes for banks in India. MCLR helps all banks in India determine the minimum rate of interest for different types of loan categories like home loans, personal loans, etc. MCLR is the minimum interest rate below which banks cannot offer loan interest rates, or else they will have to go through strict regulatory action.
Following are current UCO Bank MCLR and MCLR rates of other top banks in India:
| Bank Name | Overnight | 1 Month | 3 Months | 6 Months | 1 Year | 2 Years | 3 Years |
|---|---|---|---|---|---|---|---|
| UCO Bank | 8.15% | 8.30% | 8.50% | 8.75% | 8.90% | NA | NA |
| Axis Bank | 9.10% | 9.10% | 9.20% | 9.25% | 9.30% | 9.40% | 9.45% |
| Yes Bank | 9.20% | 9.55% | 10.20% | 10.45% | 10.60% | NA | NA |
| HDFC Bank | 8.95% | 8.95% | 9.10% | 9.30% | 9.30% | 9.35% | 9.35% |
| ICICI Bank | 8.60% | 8.60% | 8.65% | 9.00% | 9.10% | NA | NA |
| SBI | 8.00% | 8.20% | 8.20% | 8.55% | 8.65% | 8.75% | 8.85% |
| PNB | 8.25% | 8.30% | 8.50% | 8.70% | 8.85% | NA | 9.15% |
| PSB | 8.00% | 8.30% | 8.45% | 8.75% | 8.95% | NA | NA |
| Citibank | 7.05% | 7.10% | 7.25% | 7.30% | 7.20% | NA | NA |
| Bank of Baroda | 8.10% | 8.30% | 8.45% | 8.65% | 8.85% | NA | NA |
| IndusInd Bank | 10.10% | 10.15% | 10.30% | 10.45% | 10.45% | 10.45% | 10.45% |
| IDFC FIRST Bank | 9.80% | 9.80% | 10.00% | 10.30% | 10.45% | NA | NA |
| Bank of India | 8.10% | 8.40% | 8.50% | 8.70% | 8.90% | NA | 9.10% |
| Central Bank of India | 8.00% | 8.05% | 8.40% | 8.60% | 8.75% | NA | NA |
| Federal Bank | 9.45% | 9.50% | 9.55% | 9.65% | 9.70% | NA | NA |
| IDBI Bank | 8.35% | 8.50% | 8.80% | 9.00% | 9.05% | 9.60% | 10.00% |
| Indian Overseas Bank | 8.00% | 8.20% | 8.40% | 8.65% | 8.80% | 8.80% | 8.85% |
| Canara Bank | 7.90% | 8.00% | 8.15% | 8.45% | 8.80% | NA | NA |
| Kotak Bank | 8.70% | 8.95% | 9.10% | 9.35% | 9.50% | 9.50% | 9.60% |
| HSBC Bank | 8.50% | 8.65% | 8.80% | 8.90% | 8.95% | NA | NA |
You can also apply for a UCO Bank Loan Against Property and check benefits online.
Table of Contents: UCO Bank MCLR[Hide]
UCO Bank MCLR Rate Today
UCO MCLR rate is competent and ranges from 8.20% - 8.95% for overnight to 1-year tenures with effect from 10th July 2024. These MCLR rates will be valid till the next review of the bank, i.e. on 10th August 2024. UCO Bank is a trustworthy Indian public sector bank that offers a variety of lending as well as banking products and services. The bank revised its MCLR in July, due to which its lending products became affordable for its customers.
UCO Bank decides its MCLR every month on the 10th. Below is the current UCO Bank MCLR rate with effect from 10.07.2024:
| MCLR Rate | UCO Bank |
|---|---|
| Over Night | 8.15% |
| One Month | 8.30% |
| Three Month | 8.50% |
| Six Months | 8.75% |
| One Year | 8.90% |
UCO Bank MCLR Rate Trend
Below is the UCO MCLR rate trend till now:
| Last MCLR Updated Date | Tenure | Rate |
|---|---|---|
| 10.07.2024 | Overnight | 8.15% |
| 1 Month | 8.30% | |
| 3 Months | 8.50% | |
| 6 Months | 8.75% | |
| 1 Year | 8.90% | |
| 10.06.2024 | Overnight | 8.10% |
| 1 Month | 8.30% | |
| 3 Months | 8.50% | |
| 6 Months | 8.70% | |
| 1 Year | 8.90% | |
| 10.03.2024 | Overnight | 8.10% |
| 1 Month | 8.30% | |
| 3 Months | 8.45% | |
| 6 Months | 8.70% | |
| 1 Year | 8.85% | |
| 10.01.2024 | Overnight | 8.00% |
| 1 Month | 8.25% | |
| 3 Months | 8.40% | |
| 6 Months | 8.65% | |
| 1 Year | 8.80% | |
| 10.04.2023 | Overnight | 7.85% |
| 1 Month | 8.05% | |
| 3 Months | 8.25% | |
| 6 Months | 8.50% | |
| 1 Year | 8.60% | |
| 10.04.2023 | Overnight | 7.85% |
| 1 Month | 8.05% | |
| 3 Months | 8.25% | |
| 6 Months | 8.50% | |
| 1 Year | 8.60% | |
| 10.02.2023 | Overnight | 7.60% |
| 1 Month | 7.80% | |
| 3 Months | 8.00% | |
| 6 Months | 8.25% | |
| 1 Year | 8.35% | |
| 10.01.2023 | Overnight | 7.50% |
| 1 Month | 7.70% | |
| 3 Months | 7.90% | |
| 6 Months | 8.15% | |
| 1 Year | 8.25% | |
| 08.12.2022 | Overnight | 7.35% |
| 1 Month | 7.55% | |
| 3 Months | 7.75% | |
| 6 Months | 8% | |
| 1 Year | 8.10% | |
| 10.02.2020 | Overnight | 7.70% |
| 1 Month | 7.85% | |
| 3 Months | 7.95% | |
| 6 Months | 8.20% | |
| 1 Year | 8.30% | |
| 10.01.2020 | Overnight | 7.70% |
| 1 Month | 7.85% | |
| 3 Months | 7.95% | |
| 6 Months | 8.20% | |
| 1 Year | 8.30% | |
| 10.12.2019 | Overnight | 7.70% |
| 1 Month | 7.85% | |
| 3 Months | 7.95% | |
| 6 Months | 8.20% | |
| 1 Year | 8.30% | |
| 10.09.2019 | Overnight | 7.85% |
| 1 Month | 8% | |
| 3 Months | 8.10% | |
| 6 Months | 8.35% | |
| 1 Year | 8.45% | |
| 10.05.2019 | Overnight | 8.05% |
| 1 Month | 8.20% | |
| 3 Months | 8.30% | |
| 6 Months | 8.55% | |
| 1 Year | 8.65% | |
| 10.01.2019 | Overnight | 8.15% |
| 1 Month | 8.25% | |
| 3 Months | 8.35% | |
| 6 Months | 8.60% | |
| 1 Year | 8.70% | |
| 10.12.2018 | Overnight | 8.15% |
| 1 Month | 8.25% | |
| 3 Months | 8.35% | |
| 6 Months | 8.60% | |
| 1 Year | 8.70% | |
| 10.09.2018 | Overnight | 8.10% |
| 1 Month | 8.20% | |
| 3 Months | 8.30% | |
| 6 Months | 8.55% | |
| 1 Year | 8.65% | |
| 10.05.2018 | Overnight | 7.90% |
| 1 Month | 8% | |
| 3 Months | 8.15% | |
| 6 Months | 8.35% | |
| 1 Year | 8.45% | |
| 10.01.2018 | Overnight | 7.90% |
| 1 Month | 8% | |
| 3 Months | 8.15% | |
| 6 Months | 8.35% | |
| 1 Year | 8.45% | |
| 10.12.2017 | 1 Month | 8% |
| 3 Months | 8.15% | |
| 6 Months | 8.35% | |
| 1 Year | 8.45% | |
| 10.09.2017 | Overnight | 8% |
| 1 Month | 8.10% | |
| 3 Months | 8.15% | |
| 6 Months | 8.35% | |
| 1 Year | 8.45% | |
| 10.04.2017 | Overnight | 8.15% |
| 1 Month | 8.25% | |
| 3 Months | 8.30% | |
| 6 Months | 8.50% | |
| 1 Year | 8.60% | |
| 10.01.2017 | Overnight | 8.25% |
| 1 Month | 8.35% | |
| 3 Months | 8.40% | |
| 6 Months | 8.50% | |
| 1 Year | 8.60% | |
| 2 Years | 8.70% | |
| 10.12.2016 | Overnight | 9.05% |
| 1 Month | 9.15% | |
| 3 Months | 9.20% | |
| 6 Months | 9.25% | |
| 1 Year | 9.30% | |
| 2 Years | 9.40% | |
| 05.10.2016 | Overnight | 9.20% |
| 1 Month | 9.30% | |
| 3 Months | 9.35% | |
| 6 Months | 9.40% | |
| 1 Year | 9.45% | |
| 05.04.2016 | Overnight | 9.30% |
| 1 Month | 9.40% | |
| 3 Months | 9.45% | |
| 6 Months | 9.50% | |
| 1 Year | 9.55% |
You can also check the Current ICICI Bank MCLR Rate Online.
UCO Bank Home Loan Interest Rate & MCLR
The Current MCLR of UCO Bank with effect from 10th July, 2024 is mentioned below:
| Tenure | UCO Bank MCLR |
|---|---|
| Overnight | 8.15% |
| 1 Month | 8.30% |
| 3 Months | 8.50% |
| 6 Months | 8.75% |
| 1 Year | 8.90% |
The current UCO Bank MCLR-linked home loan interest rates range from 8.20% - 8.95% per annum. Even a little change in the MCLR can affect your UCO Bank home loan interest rate and EMI to be paid.
Following are the current home loan interest rates at UCO Bank linked to its current 1-year MCLR:
Home Loan
| Loan Amount | Spread | Effective Interest Rate |
|---|---|---|
| For Home Loan upto Rs 30 Lac | 8.35% MCLR + 0% Spread | 8.35% p.a. |
| For Home Loan above Rs 30 lac and upto Rs 75 Lac | 8.30% MCLR + 0.10% Spread | 8.40% p.a. |
| For Home Loan above Rs 75 Lac | 8.35% MCLR + 0.25% Spread | 8.50% p.a. |
A concession of 0.10% will be applicable on the rate of interest mentioned above for preferred customers.
Other Home Loan Schemes
| Scheme | Spread | Effective Interest Rate |
|---|---|---|
| UCO Corporate Home Loan - Corporates having internal rating UCO 3 & above | 8.35% MCLR + 2.15% Spread | 10.50% p.a. |
| UCO Corporate Home Loan - Others | 8.35% MCLR + 3.15% Spread | 11.50% p.a. |
Compare Best Home Loan Interest Rates @8.50% from multiple Banks and NBFCs
1 Year MCLR of UCO Bank
UCO Bank’s 1-year MCLR is 8.90% with effect from 11th July 2024. This MCLR will be effective till the next review, i.e. 10th August 2024. The 1-year MCLR of UCO Bank is updated every month on the 11th. Even a little change in the MCLR can affect your UCO Home Loan interest rate linked to MCLR or interest rate on other MCLR-linked lending products offered by the bank. Hence, it is advised to check the updated MCLR rate of the bank before you apply for the loan. A change in MCLR can affect your loan Equated Monthly Instalments (EMIs) as well.
Compare Lowest Interest and Calculate Rs. 80 Lakh Home Loan EMI Online
UCO Bank MCLR Rate History
There has been a significant fluctuation in the MCLR rate of UCO Bank in the past few years. Following is the UCO Bank MCLR rate history till date:
| Last MCLR Updated Date | MCLR |
|---|---|
| 10.07.2024 | 8.15% - 8.90% |
| 10.06.2024 | 8.10% - 8.90% |
| 10.03.2024 | 8.10% - 8.85% |
| 10.06.2023 | 7.90% - 8.65% |
| 10.04.2023 | 7.85% - 8.60% |
| 10.01.2023 | 7.50% - 8.25% |
| 10.12.2022 | 7.35% - 8.10% |
| 10.02.2020 | 7.70% - 8.30% |
| 10.01.2020 | 7.70% - 8.30% |
| 10.12.2019 | 7.70% - 8.30% |
| 10.09.2019 | 7.85% - 8.45% |
| 10.05.2019 | 8.05% - 8.65% |
| 10.01.2019 | 8.15% - 8.70% |
| 10.12.2018 | 8.15% - 8.70% |
| 10.09.2018 | 8.10% - 8.65% |
| 10.05.2018 | 7.90% - 8.45% |
| 10.01.2018 | 7.90% - 8.45% |
| 10.12.2017 | 8% - 8.45% |
| 10.09.2017 | 8% - 8.45% |
| 10.04.2017 | 8.15% - 8.60% |
Related Articles
UCO Bank MCLR FAQs
What is the MCLR rate of UCO Bank?
The Current MCLR of UCO Bank with effect from 10th July 2024 are mentioned below:
| Tenure | UCO Bank MCLR |
|---|---|
| Overnight | 8.15% |
| 1 Month | 8.30% |
| 3 Months | 8.50% |
| 6 Months | 8.75% |
| 1 Year | 8.90% |
What is the MCLR rate today?
UCO MCLR rate today ranges from 8.20% - 8.95% for different tenures.
What is the floating rate of UCO Bank?
The current UCO Bank float rate today is 9.30% (6.50+2.80) w.e.f 22.07.2024. UCO float rate is decided by the bank every month on the 10th.
Is MCLR the same for all banks?
No. As the decision to switch to MCLR from the base rate majorly depends on the actual benefits and the transfer cost of the bank, various banks charge differently for this switch.
Which is better, MCLR or base rate?
Looking at the UCO Bank base rate history and MCLR history, it can be said that MCLR is better than the base rate for calculating interest rates.
What is the MCLR rate by RBI?
Based on the cost of borrowings, the RBI has determined the below-mentioned formula for calculating MCLR:
MCLR = (Marginal borrowing cost * 92%) + (Return on net worth * 8%)
What is the current interest rate for home loans in UCO Bank?
The current UCO Bank 1-year MCLR (i.e. 8.90%) linked home loan interest rates range from 8.35% - 10.00% per annum.
What is the current UCO Bank repo rate?
The current UCO Bank repo rate is 6.50%.
