SBI revises lending rate

New Delhi, Feb 19 (UNI) Country's largest PSU bank State Bank of India (SBI) today revised its Benchmark Prime Lending Rate (SBAR) by 75 bps from 11.50 per cent per annum to 12.25 per cent per annum with effect from tomorrow.

The bank has also revised the interest rates on Super Saver Term Deposit Scheme, a statement said.

Considering the importance of providing cost-effective credit to the important sectors of the economy, some specific sectors has been excluded from the impact of the above change in SBAR which include all existing housing loans under priority sector, educational loans, existing and future agricultural production loans less than Rs three lakh rupees and new educational loans up to four lakh rupeess.

UNI