Central Bank of India cuts base rate to 10%

Central Bank of India has revised the base rate from existing 10.25% to 10% from July 15.  In view of this revision, the rate of interest on advances linked to base rate will undergo change with effect from July 15.

The interest rate on domestic term deposits for the various buckets has also been revised with effect from July 15. 

After the revision in deposit rate it will range between 6.5 to 9% across various maturities.

Recently Union Bank also reduced the base rate to 10% from 10.25% under all slabs.