MUMBAI, Apr 20: Public sector lender, Syndicate Bank has decided to change interest rates on lendings and deposits.
The Bank has cut the Base Rates by 25 basis points, from 10.75 per cent to 10.50 per cent and Benchmark Prime Lending Rate (BPLR)too reduced by 25 basis points, from 15 per cent to 14.75 per cent with effect from May 1.
However, Revised downward interest Rates on Domestic Term Deposits upto Rs 15 lakh under select maturity buckets with effect from April 23 along with revise downward Interest Rates on NRE Term Deposits, a bank release said.
The bank has taken this pro-active step, keeping in view the recent policy measures announced by the Reserve Bank of India (RBI).
Base Rate means minimum rate of interest that a bank is allowed to charge from its customers.
BPLR is the interest rate that commercial banks normally charge their most credit-worthy customers.
(UNI)
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