NEWS & ADVICE : PERSONAL LOAN
SBH trims lending rate to 12.25 pcnt
By Vaibhav Aggarwal
Jul 3, 2009
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State Bank of Hyderabad, one of the associate banks of SBI, has slashed benchmark prime lending rate by 50 basis points to 12.25 percent from 12.75 percent.

The new rate will come into effect from July 1, 2009.

The parent bank, SBI announced reduction in its benchmark prime lending rate (SBAR) by 50 bps on Wednesday, 24 June 2009. The revised rates at 11.75 percent p.a. came into effect 29th June 2009 onwards.

Trailing the move, State Bank of Mysore, another associate banks of SBI, reduced lending rates by 50 basis points to 12.25 percent, with effect from June 29, 2009.

 

BPLR in % - SBI and associate banks [as on 3 July 2009]

SBI and associate banks

BPLR in %

In effect from/ last revision date

State Bank of India

11.75

(reduction by 50 bps)

29 June 09

State Bank of Mysore

12.25

(reduction by 50 bps)

29 June 09

State Bank of Hyderabad

12.25

(reduction by 50 bps)

1 July 09

State Bank of Indore

13.00

24 Feb 09

State Bank of Patiala

12.75

24 Feb 09

State Bank of Travancore

12.25

1 July 09

State Bank of Bikaner & Jaipur

12.75

24 Feb 09

Currently PNB has the lowest benchmark prime lending rate in the country at 11 percent p.a. The rate cuts are expected to induce demand and mobilise surplus funds with the banks.

 


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