Private sector lender Kotak Mahindra on Tuesday said it has raised its base rate by 0.25 per cent to 8 per cent.
The bank has also raised its Benchmark Prime Lending Rate (BPLR) by 0.25 per cent to 16.75 per cent. The revised rates will be effective Tuesday.
All categories of loans (other than the exceptions permitted by RBI) will henceforth be priced with reference to the revised base rate, the bank said in a press release issued in Mumbai.
Changes in the base rate from the current level of 8 per cent per annum will be conveyed from time to time, the release added.
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