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ICICI Bank cuts base rate by 25 bps to 9.75%

India Blooms News Service | | Apr 08, 2015, at 02:43 am

#ICICI Bank cuts base rate by 25 bps to 9.75%

Mumbai, Apr 7 (IBNS): ICICI Bank has announced a reduction of 0.25% in the ICICI Bank Base Rate ('I-Base') with effect from April 10.

The revised rate will be 9.75% p.a. as against 10.00% p.a. at present.

With effect from July 1, 2010, interest rates on new loans and advances, including consumer loans, are determined with reference to I-Base.

The fixed rate customers will not be impacted by the above revision and their contracted rates will remain unchanged.

ICICI Bank also announced a reduction in interest rates for some tenors of retail fixed deposits with effect from April 10.

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