Joining the rate cut spree, two public sector lenders, Punjab National Bank and IDBI Bank, today cut their base rates by 0.25 per cent to 10 per cent, which will lead to lower EMIs for its customers.
Punjab National Bank (PNB) has revised downwards the base rate or minimum lending rate to 10 per cent from 10.25 per cent, effective May 7. However, the new base rate of IDBI Bank would be effective from May 11.