Kotak | UCO | Vijaya | Allahabad Banks Cuts Base Rates
United Bank of India – United Bank of India has reduced its base rate by 15 basis points to 10.45 % effective April 23.
The BPLR has been reduced by 25 bps to 14.60 %. The bank has also reduced interest rate on deposits ranging between 10-35 basis points on deposits of various tenures.
UCO Bank – UCO Bank has reduced the base rate by .25 % to 10.5 % effective May 1. The bank has also slashed the interest rate on deposits from 25-50 basis points across different tenures effective April 24. Uco bank home loans reduced by 1.75 % across all tenures and interest rates on car loan by 1.25-1.75 %, Interest rate on loans extended to micro and small enterprises and for agriculture has been reduced to 11.5 % for loans up to Rs 25 lakh and 12.5 % for loans above Rs 25 lakh and up to Rs 1 crore.
Allahabad Bank – Allahabad Bank has reduced both Base rate and BPLR by 25 basis points. The revised base rate will be 10.5 % and BPLR will be 14.75 % effective May 1, said a press statement issued by the bank.
Vijaya Bank – Vijaya Bank has reduced its base rate by 20 bps effective May 1. The bank also brought down its BPLR by 25 bps from 15 % to 14.75 %.
Corporation Bank – Corporation Bank has reduced its base rate for lending and term deposit rates by 10 basis points.
The interest rates on term deposits of different maturities have been reduced by 25 bps to 200 bps with effect from April 25.
For deposits above 12 months to less than two years the rate will be 9.25 % (9.5 %). Interest rate on deposits of eight years and above remains unchanged at 9 %.
Kotak Bank – Kotak Mahindra Bank has pared its Base Rate by 25 bps to 9.75 % from 10 %. The private sector bank has also revised its BPLR downwards by 25 bps to 18.50 % from 18.75 %.
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