Chennai, 17 Aug:
State Bank of India and ICICI banks hiked their lending rates by 50 basis points. SBI hiked its deposit rates by up to 150 basis points. ICICI Bank's Benchmark Prime Lending Rate also revised from 15.75 per cent to 16.25 percent. It's floating rates also increased by 50 basis points (now it is 12.75%). The revised rates will be effective from tomorrow. On the other hand, SBI also raised its benchmark lending rate by 12.25% and deposit rates by up to 150 points. As a result of this hike, the products of the abovesaid banks are expected to become little bit costlier.
State Bank of India and ICICI banks hiked their lending rates by 50 basis points. SBI hiked its deposit rates by up to 150 basis points. ICICI Bank's Benchmark Prime Lending Rate also revised from 15.75 per cent to 16.25 percent. It's floating rates also increased by 50 basis points (now it is 12.75%). The revised rates will be effective from tomorrow. On the other hand, SBI also raised its benchmark lending rate by 12.25% and deposit rates by up to 150 points. As a result of this hike, the products of the abovesaid banks are expected to become little bit costlier.
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