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Latest Lending (base) Rates From Top Banks In India


Recently, the Reserve Bank of India cut repo rates by 25 basis points, which was in line with expectations.


Some banks have reduced interest rates after RBI Governor Raghuram Rajan pushed the banks to cut interest rates further.

Banks generally have what is called the prime lending rate (PLR) which is the base rate and they do not lend below these rates.

Latest Lending (base) Rates from Top Banks In India

The RBI does not fix the base rate. Individual banks fix their own base rates and so each bank has its own base rate.

This rate generally depends on the banks own asset liabilities. Interest rates move based on this.

Since, beginning of this year, RBI has cut the repo rate by 75 bps.

Here are the latest lending rates by banks which have slashed interest rate after the RBI rate cut.

Banks Lending Rates Applicable from
Allahabad Bank 9.95 per cent 02/06/2015
State Bank of India 9.70 per cent 02/06/2015
Federal Bank 10.20 per cent 16/06/2015
HDFC Bank 9.70 per cent 15/06/2015
IDBI Bank 10 per cent 10/06/2015
Punjab & Sind Bank 10 per cent 10/06/2015
Syndicate Bank 10 per cent 10/06/2015
Central Bank of India 9.95 per cent 08/06/2015

It's important to note that the above mentioned are only the base rates. Interest rates on different set of loans differ and are not in anyway at the base rates.


For example, education loans could be at the base lending rates + 2%. This means that it could be 10%+2% for IDBI Bank which is 12 per cent.

Similarly, for auto loans and personal loans. Most loans, especially for retail investors is never lent at the base rate or at the lending rate mentioned above.

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