Federal Bank, on Thursday, announced a 0.25 percentage point reduction in its base rate, or the minimum rate of lending, at 10.20 per cent.

The rate cut, which comes after similar calls by a slew of state-run lenders, is applicable from February 21 itself, the bank said in a statement.

The bank also said that it would be lending “to good rated retail borrowers” for their car and home loan requirements on a par with the base rate. — PTI