Union Bank hikes lending rate by 50 bpsDecember 27th, 2010 - 5:17 pm ICT by IANS
Mumbai, Dec 27 (IANS) The government-run Union Bank of India Monday raised the base rate, the minimum rate at which banks lend, by 50 basis points (bps) to 9 percent, in line with other lenders. “The revision is in alignment with the current rate scenario as also the increase in the cost of funds,” Union Bank of India said in a regulatory filing to the Bombay Stock Exchange (BSE) Monday.
The public sector lender last week hiked retail term deposit rates by 75 to 100 basis points on various maturity periods.
Union Bank of India has also increased its Benchmark Prime Lending Rate (BPLR) by 50 basis points to 13.25 percent.
Other lenders, including Punjab National Bank, Allahabad Bank, Indian Bank, Bank of India and Indian Overseas Bank, also raised their lending and deposit rates this month in view of the tighter monetary policy adopted by the Reserve Bank of India to tame inflation.
- PNB, Allahabad Bank hike lending, deposit rates - Jul 29, 2011
- Union Bank raises interest rates - Dec 18, 2010
- SBI to hike lending rates, loans get dearer - Apr 19, 2011
- Union Bank raises base rate by 50 bps to 8.5 percent - Oct 15, 2010
- Union Bank of India hikes base rate by 50 basis points - Aug 06, 2011
- Indian Overseas Bank hikes base rate - Jul 30, 2011
- SBI hikes deposit rates by 25-75 bps, keeps base rate steady - Sep 30, 2010
- ICICI Bank hikes lending, deposit rates - Dec 04, 2010
- SBI raises lending, deposit rates; loans to get costlier - Aug 16, 2010
- Indian Overseas Bank raises lending rate - Jul 01, 2011
- SBI, PNB hike interest rate on NRE term deposits (Lead) - Dec 27, 2011
- State Bank of India hikes deposit rates up to 150 basis points - Dec 06, 2010
- SBI, Allahabad Bank cut interest rates - Apr 23, 2012
- Indian Bank, IOB hike lending rate to 8.5 percent - Oct 01, 2010
- SBI reduces educational loan rates by up to 1 percent - Feb 27, 2012
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