NEWS & ADVICE : HOME LOANS
ICICI Bank, SBI also raise lending rates
By Joseph Samson
Aug 16, 2011
Print    Email    RSS   

Lending majors State Bank of India as well as ICICI Bank have announced having raised their lending rates finally.

SBI has announced a 50 bps rise in its base rate as well as benchmark prime lending rate (BPLR). The base rate of the bank stands at 10% while BPLR stands at 14.75%.

The revised rates have come into effect from August 13, 2011.

"We have been very sluggish in raising our lending rates. However, now we have been left with no choice but to raise the rates as our liabilities have got re-priced at a higher rate. We have given a net interest margin guidance of 3.5 per cent for this financial year and we will do all we can to protect the margin," said Mr Diwakar Gupta, Managing Director, State Bank of India.

On the other hand, ICICI Bank has also raised its lending rates by 50 bps. The base rate of the bank is set at 10% while BPLR stands at 18.75%.

SBI has also revised interest rate of only one deposit having tenor of 180-240 days to 7%, a 50 bps hike.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Evaluate Hidden costs before buying a house
Factors to Evaluate before opting for Home...
Home Loans come with Tax Rebates!
Factors affecting eligibility for home loans
Choose right repayment plan for home loans


High Profile Escorts In Haridwar...
PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive