DBS raises its base rate by 0.25% to 7.25%

DBS Bank India today said that it has increased its base rate by 0.25 per cent from 7 per cent to 7.25 per cent.

The increase is with effect from today, a press release issued here stated.

The base rate will be the minimum possible rate for all loans extended by the bank across all its customer segments and will be reviewed on a monthly basis, subject to an interim review and revision in case of significant market movements, the release said.
    
Following a general rise in cost of funds and with the interest rate regime headed northward, a clutch of banks have raised their base rates in recent weeks.
    
Earlier in the day, India's largest, State Bank of India raised both its base rate and benchmark prime lending rate (BPLR).
    
SBI raised its BPLR by 0.25 per cent from 12.25 per cent to 12.50 per cent while its base rate has been upped from 7.5 per cent to 7.60 per cent.
    
Both the increases come into effect from tomorrow.