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    HomeNewsBusinessKarur Vysya Bank cuts base rate, benchmark prime lending rate

    Karur Vysya Bank cuts base rate, benchmark prime lending rate

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

    PTI
    September 23, 2021 / 20:54 IST
    (Image: Justdial)

    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.

    ALSO READ: SBI to cut base rate by 5 bps to 7.45% from Sept 15 

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

    PTI
    first published: Sep 23, 2021 08:54 pm

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