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HDFC Bank hikes base rate by 20bps to 10%

The rate hike will increase existing equated monthly instalments on a host of products

November 05, 2013 11:05 IST | India Infoline News Service
HDFC Bank on Tuesday increased its base rate—minimum lending rate—by 20 basis points (bps) to 10% from 2 November.

One basis point is one-hundredth of a percentage point.

The rate hike will increase existing equated monthly instalments (EMIs) on a host of products including home loans, even as the bank kept its deposit rates unchanged.

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