The public sector lender, Corporation Bank has reduced its base rate by 25 basis points to 10.25 per cent from 10.50 per cent.
The new base rate will be effective from February 6, 2013.
Corporation Bank has also launched two new savings account variants- SB Signature and SB Super.
Mr. Ajai Kumar, Chairman and Managing Director of Corporation Bank launched the two new savings account variants at NRI meet at Dubai on February 4, according to the press release.
For SB Super, a customer will have to maintain a minimum quarterly average balance (QAB) of Rs 15,000 and Rs 1 lakh for SB Signature.
For both SB Super and SB Signature, preferential loan processing will be offered by affixing ‘priority' seal by the branch while forwarding loan applications.