Public sector banks active on reducing interest rates!
Posted on: 06/Jun/2015 5:01:09 PM - No. of views : (2388)
Following the recent decision by Reserve Bank of India to reduce REPO ratio by 0.25%, all banks have been active announcing reduction in lending interest rates.
Central Bank of India & Syndicate Bank have now reduced their basic interest rates.
Central Bank of India has reduced the basic interest rate by 0.30% to 9.95%.
Syndicate Bank has reduced the basic interest rates by 0.25% to 10%.
Bank of Baroda (BOB) & Oriental Bank of Commerce (OBC) have reduced the interest rates for deposits.
BOB has reduced the interest rates for deposits below Rs. 1 Crore by 0.25%.
For deposits from Rs. 1 Crore up to Rs. 10 Crores, BOB has reduced interest rate by 0.10%.
OBC has reduced interest rates for deposits by 0.25% to 0.50%.
All the above reduction in interest rates for deposits will become effective from 8th June.
