State Bank of India (SBI), the country s largest lender, has increased its benchmark prime lending rate (BPLR) by 70 basis points to 14.85 per cent and base rate by 70 bps to 10.10 per cent effective Wednesday, as per information on the bank website. The bank changes these rates in a quarterly cycle. aaa
The bank has also raised the base rate by similar basis points to 8.7 per cent, effective Thursday. The EMI amount for the borrowers who have taken loans at the base rate would go up.