SBI hikes base rate of lending

State Bank of India (#SBI) has hiked its base rate of lending from 10.10 per cent to 10.25 per cent which is likely to lead to an increase in EMIs of home, auto and personal loans.

The increase in marginal cost of lending rate (MCLR) of country’s leading bank now ranges between 8 per cent and 8.85 per cent. The new rates have come into effect from December 15.