HDFC Bank, the leading private sector lender, has reduced its base rate by 35 basis points to 9.35% from the existing 9.70%.

The revised rates are applicable from Sep 1, 2015.

With the decline in base rate, the linked loans to the existing base rate of 9.70% will become cheaper.

The Reserve Bank of India has cut its repo rate by a total of 75 basis points in the current year, but the banks have been far behind in slashing their base rate.

Analysts expect RBI to reduce its repo rate on Sep 29, 2015.

Shares of the company declined Rs 0.75, or 0.07%, to settle at Rs 1,027.00. The total volume of shares traded was 51,171 at the BSE (Monday).