Auto, Home Loans To Be Costlier , Hike in Base Rate By Leading Banks

Due to Hike in Base Rate by almost all Banks, Auto and home loans will be costlier this festive season as five more lenders including big players like ICICI, HDFC and Bank of Baroda  raised their base rates — below which they can't lend — by up to 50 basis points. 

Last week, six banks including PNB, IDBI Bank and Allahabad Bank had hiked their base rates by up to 50 basis points (0.5 per cent).

Another private player, Development Credit Bank (DCB) also raised its benchmark lending rate from 7.75 per cent to 8.25 per cent.