IDBI Bank loans to become cheaper following 25 bps reduction in Base Rate Deposit rates reduced in select buckets
Author(s): City Air NewsMumbai, May 6, 2015: IDBI Bank’s loans, linked to Base Rate will become cheaper following a 25 bps reduction in its Base Rate to 10% with effect from May 11, 2015. IDBI Bank has taken this pro-active step, keeping...
cityairnews
May 6, 2015 12:30
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Mumbai, May 6, 2015: IDBI Bank’s loans, linked to Base Rate will become cheaper following a 25 bps reduction in its Base Rate to 10% with effect from May 11, 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 impact 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 14.50% w.e.f. May 11, 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 10-25 bps with effect from May 11, 2015.
