SBH hikes base rate

State Bank of Hyderabad (SBH) will be increasing its base rate (minimum lending rate) by 50 bps (basis points) from 9.5 per cent to 10 per cent and benchmark prime lending rate (BPLR) by 25 bps —from 14.25 per cent to 14.5 per cent — with effect from July 12. The bank is also revising its interest rates on domestic term deposits — 7 per cent from the existing 6.5 per cent for deposit of up to and including Rs 1 crore for 7-to-15-day period, and 9.25 per cent from the existing 8.75 per cent for an amount of up to and including Rs 1 crore for a period of eight years and up to 10 years – effective today, the bank said in a press release on Monday.

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