Tamilnad Mercantile Bank has decided to reduce its base rate by 15 basis points to 10.60 per cent (10.75) from June 1.
The reduction in the base rate would not only be applicable to future customers but the existing ones as well, provided they have availed finance support from the bank on floating rate basis, the bank said in a release
MSME and corporate customers too would benefit from this rate cut, the note said.