You are here: Home » Finance » News » Banks
Business Standard

Bank of Baroda, SBI to cut base rate from October 1

Bank of Baroda cut the base rate by 0.35% to 9.15%

Press Trust of India  |  New Delhi 

Bank of Baroda, SBI to cut base rate from October 1

said on Thursday it had cut the base rate by 0.35 per cent to 9.15 per cent with effect from Sunday.

has also revised on some retail domestic term deposits below Rs 1 crore. Revised interest rate on one-year retail domestic term deposit is 6.50 per cent for public and 7 per cent for senior citizens.

has revised base rate and BPLR, said in a regulatory filing.

The base rate, minimum rate below which a bank cannot lend, has been revised downward from existing 9.50 per cent per annum to 9.15 per cent per annum from October 1, 2017, the bank said.

The benchmark prime lending rate (BPLR), the method which charges interest on credit worthiness of customers, has also been cut to 13.45 per cent per annum from next month.

The is 13.80 per cent per annum currently.

First Published: Fri, September 29 2017. 01:38 IST
RECOMMENDED FOR YOU