Private sector lender, ING Vysya Bank has raised its base rate by 50 basis points.
The base rate of the bank now stands at 7.75% as compared to 7.25% earlier.
With effect from 11th October 2010, all new loans and advances of the bank will be as per the revised base rate.
Before the implementation of base rate that is till June 30, all loans and advances are as per ING Vysya Bank Reference Rate (IVRR), which is at present at 16.25 per cent per annum.
Deposit rates of the bank have also been revised recently.