Leading private sector lender, Dhanlaxmi Bank has hiked its Base Rate. The bank has hiked the Base Rate by 50 basis points or 0.50 percent to 8.75 percent.
Base Rate is the rate of interest below which no bank can lend. So the hike will make will make all the new loans dearer by 50 basis points. The BPLR( Benchmark Prime Lending Rate ) offered by the bank is 17.25 percent, and the it has kept that stable.
After the third quarterly review, RBI hiked key lending rates by 25 basis points reacting to the situation; banks have been raising their interest rates.
The revised rates are effective from today itself.
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