Borrowers may see some relief as lending rates have been reduced by a certain bank. The changes affect various loan terms, with the largest decrease seen in one-month loans.

The new rates took effect recently. A key short-term rate was lowered to 7.80 percent, while rates for three-month and six-month loans were also reduced.

Further details about the new lending rates and their impact on borrowers are available from the source, including the full range of revised rates and how they compare to previous rates.