Lakshmi Vilas Bank Revises Base Rate by 15 Basis Points

Lakshmi Vilas Bank, one of India’s fast growing banks, announced reduction in the base rate from the earlier rate of 10.70% p.a. to 10.55% p.a. The revised rate is effective from February 8, 2016.

Base rate is the benchmark rate to which all lending rates are linked. The said reduction is applicable to the existing as well as future loans.

About Lakshmi Vilas Bank:

Lakshmi Vilas Bank was founded in 1926 and it has a national presence serving over 2 million customer accounts through its 447 branches, 7 Extension Counters, 832 ATMs, business correspondents across 131 villages and 234 wards under financial inclusion, totaling to 1651 outlets in 16 states and Union territory of Pondicherry.

The bank is active across the entire spectrum of customer segments - retail, mid-market and corporate. Through its branches, the bank also offers a host of para-banking products in association with Life, General and Health Insurance companies, mutual funds, stock broking houses, money remittance companies, etc. on a technologically advanced platform.