New Delhi: The State Bank of India (SBI) yesterday said it has decided to raise lending rates by 0.20 percent that will make home, auto and other loans costlier. SBI will raise base rate or the lowest rate at which the bank lends to 10 percent from the existing 9.8 percent. The bank has also decided to hike Benchmark Prime Lending rate by 0.20 percent to 14.75 percent per annum from the existing 14.55 percent. The new rates will be applicable from today, SBI said in a statement. HDFC Bank has raised its base rate by 0.20 percent to 10 percent. Allahabad Bank earlier this week hiked interest rates on domestic term deposits by up to 1.2 percent per annum on amount less than Rs1 crore. IANS
