Within couple of hours of rate cut by the Reserve Bank, country's largest bank SBI slashed its lending rate by 0.40 per cent to 9.3 percent. A statement issued by the SBI has said that with the reduction in the base rate, all loans, including home, auto and corporate, would become cheaper by at least 0.40 per cent. It also said the bank will also be cutting fixed deposit rates by 0.25 per cent across various maturities from 5th of next month.Meanwhile largest private sector lender ICICI Bank also hinted at cutting its base rate by at least 0.25 per cent. Talking to reporters managing director and chief executive Chanda Kochhar said that a large part of the cut will get transmitted and it should be more than half percent. Andhra Bank also reduced its base rate by 0.25 per cent to 9.75 per cent effective from today.