Lending rates hiked by StanChart
By Vaibhav Aggarwal
Sep 5, 2011
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Foreign lender Standard Chartered Bank has announced a revision in its lending rates by as much as 25 bps.

The base rate of the bank now stands at 9.75% following the revision.

The revised rates have come into effect from September 01, 2011.

"The base rate has been arrived at considering the 6-9 months term-deposit rate blended with current and savings account (CASA) cost, and other elements that are common across all categories of borrowers," said the bank through its official website.

StanChart happens to be the second foreign player to revise its lending rates following RBI's massive policy rate hike spree. The first happens to be HSBC.


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