IDBI Bank loans to become cheaper following 25 bps reduction in Base Rate
Author(s): City Air NewsMumbai, September 30, 2015: IDBI Bank’s loans, linked to Base Rate will become cheaper following a 25 bps reduction in its Base Rate to 9.75% p.a. with effect from October 05, 2015. IDBI Bank has taken this pro-active...
cityairnews
Sep 30, 2015 12:30
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Mumbai, September 30, 2015: IDBI Bank’s loans, linked to Base Rate will become cheaper following a 25 bps reduction in its Base Rate to 9.75% p.a. with effect from October 05, 2015.
IDBI Bank has taken this pro-active step, keeping in view the recent policy measures announced by the RBI. The reduction in interest rate is expected to positively encourage loan growth; both in the retail consumer segment, as also revitalize fixed capital formation through higher corporate sector lending, thereby supporting the growth impulses in the economy. The BPLR of the Bank has also been reduced by 25 bps to 14.25% p.a. w.e.f. October 05, 2015 in line with the reduction in Base Rate.
The Bank has also decided to reduce the Retail Term Deposit Rates in select buckets by 25 / 50 bps with effect from October 05, 2015.
Date:
Wednesday, September 30, 2015
