United Bank of India has reduced its base rate by 15 basis points to 10.45 per cent effective April 23.
The benchmark prime lending rate has been reduced by 25 basis points to 14.60 per cent, according to a press statement issued by the bank.
The bank has also reduced interest rate on deposits ranging between 10-35 basis points on deposits of various tenures.
The decision was taken by the Asset Liability Management Committee of the bank at its meeting held on April 21.
UCO Bank
UCO Bank has reduced the base rate by 25 basis points to 10.5 per cent effective May 1.
The bank has also slashed the interest rate on deposits from 25-50 basis points across different tenures effective April 24.
This apart, the bank has reduced the interest rates on home loans by 175 basis points across all tenures and interest rates on car loans by 125-175 basis points, said a press statement issued by the bank.
Interest rate on loans extended to micro and small enterprises and for agriculture has been reduced to 11.5 per cent for loans up to Rs 25 lakh and 12.5 per cent for loans above Rs 25 lakh and up to Rs 1 crore.
Allahabad Bank
Allahabad Bank has reduced both base rate and benchmark prime lending rate by 25 basis points.
The revised base rate will be 10.5 per cent and BPLR will be 14.75 per cent 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. Currently, the bank's base rate is at 10.65 per cent, and the revision will bring it down to 10.45 per cent, said a press release from the bank. The bank also brought down its BPLR by 25 bps from 15 per cent to 14.75 per cent.
Corporation Bank
Corporation Bank has reduced its base rate for lending and term deposit rates.
A bank release said here on Monday that the base rate has been reduced from 10.65 per cent to 10.50 per cent with effect from May 1.
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 per cent (9.5 per cent). Interest rate on deposits of eight years and above remains unchanged at 9 per cent.
Kotak Bank
Kotak Mahindra Bank has pared its Base Rate by 25 bps to 9.75 per cent from 10 per cent. The private sector bank has also revised its BPLR downwards by 25 bps to 18.50 per cent from 18.75 per cent.