SBI's New Year Gift: Base Lending Rate Cut, 80 Lakh Customers To Benefit | Read

Bringing the New Year cheer to its customers, SBI or State Bank of India today cut its base rate and Benchmark Prime Lending Rate (BPLR) by 30 basis points (bps). The new rates will be effective from January 01, 2018, said SBI, India's biggest bank. SBI cut the base rate to 8.65 per cent from 8.95 per cent for existing customers and BPLR to 13.40 per cent from 13.70 per cent. Approximately, 80 lakh customers will benefit from this move, SBI noted.