Karur Vysya Bank cuts base rate, benchmark prime lending rate

Karur Vysya Bank cuts base rate, benchmark prime lending rate

PTIUpdated: Thursday, September 23, 2021, 09:06 PM IST
article-image
Both the rates have been slashed by 0.45% each/ Representational image |

Private sector lender Karur Vysya Bank on Thursday said it has cut the base rate and the benchmark prime lending rate to 8 per cent and 13 per cent, respectively, effective Friday.

"We advise that base rate and BPLR of the bank would be revised with effect from September 24, 2021," Karur Vysya Bank said in a regulatory filing.

Both the rates have been slashed by 0.45 per cent each.

Base rate is the minimum rate, below which banks are not allowed to lend to its customers.

BPLR is applicable only for existing customers and is not applicable for fresh lending.

RECENT STORIES

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu..."; Here's How To Save...

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu...

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...