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IDBI Bank and Development Credit Bank have hiked their Benchmark Prime Lending Rates (BPLR) and base rate by 50 basis points, with immediate effect.
IDBI Bank has also hiked fixed deposit rates for certain maturities by 25-125 basis points.
IDBI Bank's revised base rate is 9.5 per cent and BPLR is 14 per cent, said a press release issued by the bank.
The bank has increased the rate on deposits of 91 days to six months to 7.5 per cent (6.5 per cent), on deposits of six months to 269 days to 7.75 per cent (7.25 per cent), on deposits of one year one day to 499 days to 8.75 per cent (8.5 per cent), and on deposits of 1,100 days to five years to nine per cent (8.6 per cent).
The bank had hiked deposits rates by 25-75 basis points in January as well.
DCB hiked its BPLR to 16.25 per cent and its base rate to nine per cent. The new base rate will be applicable for new loans and renewals with immediate effect, said a press release from the bank
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