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Indian Bank hikes lending rates to 14 per cent
Published on Tue, Aug 12, 2008 at 15:17, Updated on Tue, Aug 12, 2008 at 19:26 in Business section
Tags: Indian Banks, Interest Hike
INTEREST LOST: Victims of inflations, the consumers will bear the brunt of the hike
Mumbai The public sector Indian Bank has increased its benchmark prime lending rates by 75 basis points to 14 per cent per annum with effect from Monday.
However, the home loan floating rates for sanctioned limits up to Rs 3 million for both existing and fresh accounts are not being revised.
Educational loan interest rates for both these accounts are also not being revised.
The bank has also decided to increase interest rates on domestic term deposits with effect from August 9.
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