Friday, September 20, 2013

SBI increases Base interest rate to 9.80%

State bank of India has increased interest rate by increasing base rate from 9.70% to 9.80%. So all loans, whether two wheeler loan, four wheeler loan, home loan or personal loans will see an increase in lending rate due to this hike of interest rate by SBI.

The leading bank of India today announces hike of 10 basis point (basis point means 100 basis point means 1 percent) in interest rate due to change in monetary and liquidity conditions. Earlier the SBI has decreased it base rate by 5 basis point in February 2013 from 9.75% to 9.70%.

The new increase in base rate will be going to make two wheeler loan and four wheeler loan from SBI dearer than it was before. Let us see what will be the impact on sale of vehicles due to this change in interest rate.

New base rate of Interest is 9.80%