Latest Base Rates for banks in India
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…
Base Rate, BPLR increased by SBI
Nation's biggest bank, State Bank of India has increased its base rate and BPLR (Benchmark Prime Lending Rate) by 75 basis point which was kind of expected after RBI's rate hike last week. The SBI bank's base rate or the minimum lending rate is now and the BPLR is now14%. Comparison of Base Rates “The increase in lending rates is in line with the policy rate rise by RBI earlier this month, which was aimed at curbing inflation,” said Managing…