SBI raises PLR by 100 bps

The State Bank of India (SBI) announced a 100 basis point increase in its prime lending rate (PLR), which will go up to 13.75% from Tuesday. SBI also said it will raise deposit rates 25-75 basis points.

The bank has, however, decided to leave lending rates on home loans of up to Rs 30 lakh – existing and new – unchanged. Interest rates on auto loans will go up 50 basis points.