Karnataka Bank reduces base rate by 0.25%
By Vaibhav Aggarwal
Nov 16, 2012
Print    Email    RSS   

The Bangalore based Karnataka Bank has announced that it has cut its base rate by 0.25 percent. Its new base rate is 10.75 percent, which has become effective from November 10.

Base rate is the minimum interest rate below which banks are not allowed to lend. While announcing the rate cut, the bank said, "The Bank's base rate now stands reduced to 10.75 per cent from the earlier 11 per cent."

In addition to this, it has also slashed its fixed deposits interest rates by 0.25 percent.     

It is to be noted that following the decrease in its base rate, all its retail loans which are linked to base rate will be available for 0.25 percent less interest rate. On the matter, it said, "The said reduction is applicable to the existing loans and also for the future loans. This will enable retail and MSME customers to avail funds at reduced rates and to stay competitive in their market."

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Man caught for committing bank fraud
LAP or personal loan: Which one to choose?
This is how a bank lends money
Carnival of Indian Personal Finance Blogs #4
12 point conduct checklist for bank and...

effective love spells Get back your lover...
HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive