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Union Bank annouces cut in deposit rates

Union bank of India has cut the deposit rates by 25-50 basis points across the board, it has however not reduced its prime lending rate (PLR). The revised deposit rates would be effective from the first week of December. The rates on NRE and NRNR deposits have also been reduced by 25-50 basis points.

The following table deposits the deposit rates.

Maturity Period	Deposit Rate
15-45 days	5%
46-179	5.75%
180-less than a year	6.75%
1-2 years	7.50%
less than 3 years	7.75%
more than 3 years	8.25%

NRE Deposits is as follows

Maturity Period	Deposit Rate
180-less than a year	6.75%
1-2 years	7.50%
2 - 3 years	7.75%
more than 3 years	8.25%

NRNR Deposit rates is as follows

Maturity Period	Deposit Rate
180-less than a year	6.75%
1-2 years	7.50%
2 - 3 years	7.75%
more than 3 years	8.25%

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