Bank of Baroda, one of the leading public sector lenders, Thursday decided to reduce base rate by 10 basis points from 10% to 9.90%. The bank has also decided to reduce benchmark prime lending rate (BPLR) by 10 basis points from 14.25% to 14.15%. The reduction in both rates will be effective from July 13, 2015.

Recently, the bank has decided to lower interest rates on term deposits by 25 basis points across maturities. However, the bank has retained interest rates on deposits having maturity of up to 1-year. Deposits earning 8.5% and 8.25% interest rates will now fetch interest of 8.25% and 8% respectively under various maturities.

Shares of the company bank Rs 2.3, or 1.52%, to trade at  Rs 153.50.  The total volume of shares traded  was  238,382 at the BSE (2.08 p.m., Thursday).