SBM & BoM raise lending rate by 25 bps

Bank of Maharashtra raised the Benchmark Prime Lending Rate (BPLR) by 25 basis points to 13.75 per cent effective from Friday, the bank informed BSE. This will make all kind of existing loans, including housing and auto loan expensive by atleast 25 basis points.

Besides, State Bank of Mysore has increased its Base Rate or the minimum lending by 25 basis points from 8.5 per cent to 8.75 per cent. The new rate would be effective from February 14.