City-based UCO Bank has reduced its base rate by 25 basis points (0.25 per cent) to 9.95 per cent with effect from May 1, this year.
Interest rate on deposits across all tenors has also been reduced “with immediate effect”, it said in a release.
“UCO Bank reduces its Base rate by 25 Basis points to 9.95 per cent with effect from 1st May 2015, and, reduces Interest rate on deposits across all tenors with immediate effect,” the release said.