Mumbai: Private sector Kotak Mahindra Bank, on Tuesday said that it has upped its base rate by 0.25% to 8%.
The bank has also hiked its Benchmark Prime Lending Rate (BPLR) by 0.25% to 16.75%.
The revised rates are with effect from today. All categories of loans (other than the exceptions permitted by RBI) will henceforth be priced with reference to the revised base rate, the bank said in a press release issued here.
Changes in the base rate from the current level of eight per cent per annum will be conveyed from time to time, the release added.