State Bank of India to cut base rate by 5 bps to 7.45%, also reduce PLR
Also, it has cut its prime lending rate by 5 bps to 12.20 per cent.
State Bank of India (SBI), the country’s largest lender, has opted to lower its introductory lending rate by five basis points (bps) to 7.45 percent, beginning September 15.
It has also lowered its prime lending rate by five basis points to 12.20 percent. Kotak Mahindra Bank, a private lender, cut its home loan rates by 15 basis points to 6.5 percent last week, making it one of the lowest rates in the banking market.