Kolkata-based lender United Bank of India (UBI) revised its base rate and interest rate on deposits with effect from Thursday.
The base rate has moved up by 25 basis points to 10.50 per cent. Similarly, the interest rate on deposits having a term of one year and above has been revised to 8.50 per cent from an earlier one of 8.75 per cent.
According to a release issued by UBI, the change in rates has been made following the change in repo rates by the Reserve Bank of India. “The revision (in base rate) will impact the loan accounts linked to the base rate,” it said.