Banks re­duc­ing their lend­ing rates

Accommodation Times - - News -

Af­ter the Re­serve Bank of In­dia re­duced its repo rates for the third time in the year, hous­ing fi­nance banks are re­duc­ing their lend­ing rates grant­ing a re­lief to home buy­ers. Im­me­di­ate af­ter the an­nounce­ment, SBI re­duced its base rate or min­i­mum lend­ing rate to 9.70 per cent from 9.85 per cent ef­fec­tive June 8. Al­la­habad Bank cut base rate 0.30 per­cent, while Dena Bank, Punjab & Sind Bank re­duced their base rate by and 0.25 per­cent each. The base rate has been be re­duced to 9.95 per­cent from 10.25 per­cent, ef­fec­tive June 8. Also, Dena Bank and Punjab & Sind Bank low­ered their base rate by 0.25 per­cent to 10 per­cent.

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