Loans to existing borrowers with State Bank of India are set to be a bit costly (State Bank Of India) To increase your base rate by 10 basis points (bps). According to its website, SBI has increased the base rate by 10 bps. The new rate will be effective from 15 December 2021. Earlier in September, the bank had reduced the base rate by 5 basis points to 7.45 per cent.
SBI has increased the base rate just days after the Reserve Bank of India (RBI) announced its decision to maintain status quo on rates.
On 8 December 2021, RBI announced its decision to maintain status quo on rates. The repo rate and reverse repo rate currently stand at 4% and 3.35 per cent, respectively.
SBI also increased the interest of fixed deposits 2 crore, with effect from 15 December 2021 FD interest rates Below SBI has not made any change in Rs 2 crore.
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