Corporation Bank further cuts lending rate by 0.05 pc

State-owned Corporation Bank today further revised its benchmark lending rate by 0.05 per cent to 9.65 per cent.
The bank has now revised the base rate from 9.90 per cent to 9.65 per cent with effect from October 8, Corporation Bank said in a statement.
So with the latest revision, the effective base or minimum lending rate cut is 0.25 per cent.
Earlier on October 5, the bank had announced reduction in rate from 9.90 per cent to 9.70 per cent.
Mortgage lender DHFL too lowered lending rate to 9.55 per cent to new borrowers for a limited period.
The company cut its retail prime lending rate by 0.20 per cent and also announced a 0.10 per cent cut to loans written till December 31, taking the effective lending rate down to 9.55 per cent for loans under Rs 25 lakh.

This offering is at par with the country's largest lender SBI's minimum rate of lending for non-women borrowers which stands at 9.55 per cent, and better than the 9.65 per cent offered by rivals like HDFC, ICICI Bank and Axis Bank for non-women borrowers for smaller ticket sizes.