State-owned Bank of India has announced a hike in lending rate by 10 basis points, a move which will make loans, including retail, expensive.
The lending rate increase comes ahead of the monetary policy announcement by the Reserve Bank of India on April 5.
The new rate would be effective from April 1, BoI said in a regulatory filing on Saturday.
The bank has increased the mark-up by 10 bps from the existing level of 2.75% to 2.85%, and with the present repo rate of 6.5%, the repo-based lending rate will be 9.35%, it said.
Meanwhile, in a separate filing, another public sector lender Indian Bank has hiked the lending rate linked to base rate and Benchmark Prime Lending Rate by 5 basis points.
The new rates are effective from April 3 in the case of the Indian Bank.
RECOMMENDED FOR YOU
Export Lobby Seeks Rupee At 103 Per Dollar To Offset US Tariffs
Sep 04, 2025
GST 2.0 — Auto Sector Gets A Festive Season Booster With Rate Cuts; Maruti Suzuki, M&M Among Top Beneficiaries
Sep 04, 2025
Revealed: How Govt is Seeing Tariff Impact Playout, Planning Counter Steps
Aug 28, 2025
.jpeg?rect=0%2C0%2C3500%2C1969&w=75)
GST Cut On Footwear Will Aid Recovery In Sub-Rs 1,000 Segment: Bata India CEO
Aug 21, 2025
POPULAR