Private sector lender HDFC Bank has announced a hike in lending as well as deposit rates. The lending rates of the bank have been raised by 50 bps.
The base rate of the bank thus stands at 10% while benchmark prime lending rate (BPLR) stands at 18.5%.
The revised rates have come to effect from saturday, August 13, 2011.
Furthermore, the lender has also revised interest rates for fixed deposits. Deposits having tenor of 1 year 1 day to 1 year 15 days will now bear interest of 9%.
Interest rate of the 46-60 days deposit has been raised to 7%.