Public sector Bank of Baroda on Thursday said it has cut the base rate by 0.35 per cent to 9.15 per cent with effect from October 1.
The bank has revised base rate and BPLR, Bank of Baroda said in a regulatory filing.
The base rate, minimum rate below which a bank cannot lend, has been revised downward from existing 9.50 per cent per annum to 9.15 per cent per annum from October 1, 2017, the bank said.
The benchmark prime lending rate (BPLR), the method which charges interest on credit worthiness of customers, has also been cut to 13.45 per cent per annum from next month. The BPLR is 13.80 per cent per annum currently.
Shares of Bank of Baroda were trading 0.25 per cent up at Rs 138.95 on BSE.