Retail loan rates: Who is offering lowest?

SBI recently reduced base rate by 40 bps to 9.3% and ICICI Bank by 35 bps to 9.35%

While State Bank of India (SBI), has decided to add a margin of 25 bps to its base rate for new home loan borrowers, ICICI Bank is yet to decide whether they will continue with the same margin which is base rate plus 20 bps.

Both the banks cut their base rate last week – SBI reduced by 40 bps to 9.3% and ICICI Bank by 35 bps to 9.35%.

The move was following 50 bps repo rate cut by the Reserve Bank of India during the fourth bimonthly policy review on 29 September.

HDFC Bank had reduced its base rate by 35 bps to 9.35% on September 1, though the second largest private sector lender is yet to reduce it further post the RBI rate cut.

Here are the different rates offered by these lenders – as on today- for home and auto loans:

	SBI	ICICI bank (upto Rs 5 crore)	HDFC	HDFC Bank	Bank of Baroda
Home loan	9.55%	9.55%	9.65%	-	9.65%
Car loan	9.85%	10.75% (36-84 months)	-	9.5-10.5%	9.9%
*Some lenders offer 5 bps discount over the card rate to women borrowers  Source: Bannks