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Union Bank of India increased its benchmark prime lending rate and Base Rate by 50 basis points with immediate effect, the bank said in an announcement on the Bombay Stock Exchange.
The revised BPLR is 13.75 per cent (13.25 per cent) and the revised Base Rate is 9.5 per cent (9 per cent). The bank also increased the rates on medium- and long-term fixed deposits by 75-125 basis points, across different maturity buckets.
The revised rates for three-year and five-year term deposits are 8.75 per cent and 9 per cent. The bank offers 9.15 per cent for 1,100-day deposits, the BSE notice said.
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