Development Credit Bank today revised its base rate to 8.25 per cent per annum from the earlier base rate of 7.75 per cent per annum. The new base rate will be applicable for new loans and renewals with effect from October 5, 2010.
"Deposit rates, consequently cost of funds have increase especially in the shorter tenor necessiating an increase in the base rate," said Murali M Natarajan, MD & CEO, DCB.
DCB has around 600,000 customers and has business segments across retail, micro-SMEs, mid-corporate, microfinance institutions (MFIs), agriculture, commdities and government. The bank has 80 branches across ten states and two union territories.
