Even as the country’s largest bank State Bank of India (SBI) is yet to hike rates, two other state-run banks, including Canara Bank, Bank of India, Corporation Bank, Dena Bank, and Andhra Bank raised their BPLR on Thursday, Bank of India, Canara Bank, Dena Bank, and Andhra Bank have revised their BPLR by 75 basis points. BoI’s BPLR would be 14% with effect from August 10.
Canara bank has also decided not to effect the upward revision in interest rates for fresh individual housing loans up to Rs 30 lakh.
Corporation Bank has hiked its BPLR by 50 basis points to 14% with effect from August 11.
GE Money, the consumer finance unit of the General Electric Company has announced an increase in its benchmark floating reference rate by 0.75% with effect from August 9, 2008.