SBI cut it’s base rate by 5 basis points from 9.75 percent to 9.70 percent, effective February 4. While HDFC Bank Ltd was selective in reducing rates on auto loan, though the bank has not reduced base rate, yet. Federal Bank also reduced rates on auto loan for three years. While RBS reduced its base rate by 0.75 percent to 9 percent, IDBI bank reduced the base rate by 25 basis points, or 0.25 percentage point. Base rate is a rate below which a bank cannot lend. In fact, IDBI also reduced its benchmark prime lending rate (BPLR) by 25 basis points, making home loan cheaper for those who are still stuck on the BPLR system for their loan. More banks are expected to reduce their base rate in the near future. Let’s see what it really means for you.
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📈 Expected Dearness Allowance (DA) from January 2026 Calculator
