Money & Banking

IOB cuts base rate by 20 bps

Our Bureau Chennai | Updated on January 15, 2018 Published on April 04, 2017


Chennai-headquartered Indian Overseas Bank (IOB) has cut its base rate (BR) by 20 bps effective April 1.

The new Base Rate is 9.50 per cent. The existing loans linked to Base Rate will be priced at the revised rate with effect from April 1, 2017, according to an announcement of the public sector bank.

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Published on April 04, 2017
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