Base Rate Comparison of Banks in India

All public and private sector banks are using the new base rate regime. The base rate is the minimum rate that a bank will lend money to anyone. Think of it as a floor below which RBI will not allow banks to lend to you. The latest increase in the interest rates by RBI has forced major private banks like ICICI, Axis Bank, HDFC and also PSBs like SBI, PNB, CBI, BoB etc to increase their base rates.

Here is the list and comparison of the latest base rates for most public and private sector banks –

Latest Base Rates of Banks in India

Previously, banks used to price the loans they offered to you on a complicated system called benchmark prime lending rate (BPLR). Each bank has its own BPLR methodology which made it difficult for borrowers to compare rates across banks.

Now, with the base rate in place, it will be easier for all of us to compare across banks and to get a more transparent view on how the interest rate for the loan is being arrived at. Here is the base rates for major banks in india. (Last Updated: July 01, 2014)

BankLatest Base Rate(%)
Allahabad Bank10.5
Andhra Bank10.25
Axis Bank10.25
Bank of Baroda10.25
Bank of India10
Bank of Maharashtra10.25
Canara Bank9.95
Central Bank of India10
City Union Bank11
Corporation Bank10.25
DBS India9
Dena Bank10.7
HDFC Bank10
ICICI Bank10
IDBI Bank10.25
Indian Overseas Bank10.75
IndusInd Bank10.75
ING Vysya Bank10.2
Karnataka Bank10.75
Kotak Mahindra Bank9.75
Punjab and Sind Bank10.75
Punjab National Bank10.25
South Indian Bank Limited9.6
Standard and Chartered Bank9.75
Standard and Chartered Bank9.75
State Bank of Hyderabad10.25
State Bank of India10
State Bank of Mysore10.15
State Bank of Travancore10.5
Syndicate Bank10.25
Tamilnad Mercantile Bank Limited10
The Catholic Syrian Bank10
The Jammu and Kashmir Bank Limited10
The Karur Vysya Bank Limited10
Union Bank of India10
United Bank of India10.45
Vijaya Bank10.45
Yes Bank10.5