SBI too hikes base rate, benchmark PLR by 0.2%
Moneylife Digital Team 06 November 2013

With SBI, the country's largest bank, increasing its base rate, other state-run lenders may also go in for a hike in lending rates

Taking a cue from HDFC Bank, the country's largest lender State Bank of India (SBI) has hiked its base rate by 20 basis points or 0.2% to 10% from 9.8%. The state-run lender also hiked its benchmark prime lending rate (BPLR) by 20 basis points to 14.75%. The rate hike is applicable from 7th November, SBI said in a release.

 

Last month, Reserve Bank of India (RBI) had increased the key policy repo rate by 25 bps to 7.75% citing higher inflation concerns. This would increase the cost of borrowing for banks.

 

Following this, HDFC Bank, the country's second largest private bank, had raised its base rate by 20 bps to 10%, effective from 2nd November.

Comments
Eswar Rao
6 years ago
I am also facing personal loan problem as garantor
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