SBT and Allahabad Bank hikes lending rates

State Bank of Travancore and Allahabad Bank has also announced a hike in the lending rates after most of the leading lenders in the country have already hiked their lending rates.

The State Bank of Travancore has raised the base rates by 50 basis points to 9 percent and the Benchmark Prime Lending rates by 25 basis point to 13.75 percent.

The new lending rates will be effective from 16^th February.

Allahabad Bank has also raised the Benchmark Prime Lending rates by 25 basis points to 13.75 percent. the rates will be applicable from 24^th February.