Corporation Bank is a public sector banking company headquartered in Mangalore, India. It has representative offices in Dubai and Hong Kong.

It has a pan-India presence. Presently the bank has a network of 2,440 fully automated CBS branches, 3,040 ATMs, and 4,724 branchless banking units across India.

Base Rate

In pursuance of guidelines issued by Reserve Bank of India, Banks need to introduce Base Rate with effect from 01.07.2010.

The Base rate shall replace the existing Benchmark Prime Lending Rate [BPLR]/ Corporation Bank Benchmark Advance Rate [COBAR] system.

All applicable categories of loans are linked to Base Rate. With the introduction of Base Rate system, the existing BPLR/COBAR will be replaced with the Bank’s Base Rate.

Present Base rate & BPLR/COBAR of the Bank:
1. The Base Rate of Bank has revised to 9.65% from 9.90% with effect from 8th October 2015.
2. The BPLR/COBAR of the Bank for lending is 15.00% per annum with effect from 01st August 2011.

Switch over from BPLR/COBAR System to Base Rate System:
Existing borrowers have the option to continue with the existing BPLR/COBAR system till expiry of their existing contract with the Bank or shift to the Base Rate system. Borrowers may contact the concerned branch for modalities/terms & conditions