In a floating rate environment banks are very prompt on increasing the rate whenever there is an increase in central bank prime/bas rate. However if the rate comes down banks are not forthcoming to reduce the floating rate they charge to their customers. In our won interest, it is wise to periodically compare the rate charged with industry common interest rate. If you see a wide margin, pick up the phone and ask the banker to reduce the rate. Surprisingly banks would indeed reduce the rate for those customers who insists or who are aware!!