Union Bank, SBH prune base rate
State-run lender Union Bank of India on Friday announced a revision in its base rate from 10.50 per cent to 10.25 percent, effective Saturday.
Union Bank said in view of the reduction in base rate, interest rates on home loan and car loan stands reduced to 10.25 per cent and 10.70 per cent per annum respectively.
Further, State Bank of Hyderabad (SBH), an associate bank of the State Bank of India, on Friday announced cut in its base rate or BR by 5 basis points (bps) and benchmark prime lending rate (BPLR) by 10 bps. The bank has reduced its base rate to 10.20 per cent from the previous 10.25 per cent, and BPLR to 14.90 per cent from 15 per cent with effect from February 11.