Bank of India successfully raised Rs 10,000 crore by issuing long-term infrastructure bonds at an interest rate of 7.23% per annum. The fundraising was conducted through the NSE Electronic Bidding Provider Platform. The bank initially aimed for Rs 5,000 crore but received overwhelming investor interest, leading to 37 accepted bids totaling Rs 10,000 crore.
Union Bank of India has announced a significant reduction in interest rates on various retail loan products, effective from December 18. Home loan rates have been lowered by 30 basis points to start at 7.15%, while vehicle loan rates now begin at 7.50% after a 40 basis points cut. Personal loan rates have seen the most significant reduction, dropping by up to 160 basis points to a starting rate of 8.75%.
In response to the Reserve Bank of India’s repo rate cut of 25 basis points to 5.25% on December 5, Union Bank of India has reduced its loan rates. This marks the fourth repo rate cut in 2025, totaling a 125 basis points reduction in the policy rate during the year. The bank aims to support homebuyers, vehicle buyers, and personal loan customers by reducing borrowing costs while maintaining prudent lending practices.
