ING Vysya Bank has increased its Benchmark Prime Lending Rate by 0.10%, or 10 basis points with effect from Friday, September 14, 2018. This interest rate hike will increase the cost for those people who have taken their loans on floating rate of interest.
ING Vysya Bank – Current Benchmark Prime Lending Rate or Minimum Interest Rate for Loans
New Delhi (Delhi, India), September 20, 2018
ING Vysya Bank Limited Hikes Benchmark Prime Lending Rate to 17.95%
The ING Vysya Bank Limited (now merged with Kotak Mahindra Bank Limited) has increased its Benchmark Prime Lending Rate (BPLR) by 0.10 percent, or 10 basis points with effect from Friday, September 14, 2018.
ING Vysya Bank has revised its Benchmark Prime Lending Rate for home loans, personal loans, and consumer loans from 17.90 percent to 17.95 percent per annum.
ING Vysya Bank uses Benchmark Prime Lending Rate for determining the interest rates on home loans and advances sanctioned up to June 30, 2010.
ING Vysya Bank Ltd (now Kotak Mahindra Bank Limited) has also enhanced its Base Rate or the minimum lending rate from 9.10 percent to 9.20 percent per annum with effect from Friday, September 14, 2018.
ING Vysya Bank determines its interest rates on all loans and advances, including consumer loans, lent until March 31, 2016 with reference to Base Rate from July 01, 2010 onwards.
ING Vysya Bank’s current interest rate hike will increase the cost of funds for those people who have taken their home loan advances on floating rate of interest. However, this interest rates revision will not affect the Kotak Mahindra Bank’s fixed rate customers, as their contracted rates will remain unchanged.
Historical Data for ING Vysya Bank’s Benchmark Prime Lending Rate (BPLR)
September 14, 2018 BPLR: 17.95%
October 16, 2017 BPLR: 17.85%
August 02, 2017 BPLR: 17.90%
June 14, 2017 BPLR: 17.95%
January 06, 2017 BPLR: 18.05%
October 07, 2016 BPLR: 18.15%
October 05, 2015 BPLR: 18.25%
July 02, 2015 BPLR: 18.50%
April 16, 2015 BPLR: 18.60%
August 13, 2013 BPLR: 18.75%
April 26, 2012 BPLR: 18.50%
November 01, 2011 BPLR: 18.75%
August 02, 2011 BPLR: 18.50%
July 13, 2011 BPLR: 18.25%
Historical Data for ING Vysya Bank’s Base Rate
September 14, 2018 Base Rate: 9.20%
October 16, 2017 Base Rate: 9.10%
August 02, 2017 Base Rate: 9.15%
June 14, 2017 Base Rate: 9.20%
January 06, 2017 Base Rate: 9.30%
October 07, 2016 Base Rate: 9.40%
October 05, 2015 Base Rate: 9.50%
July 02, 2015 Base Rate: 9.75%
April 16, 2015 Base Rate: 9.85%
August 13, 2013 Base Rate: 10.00%
April 26, 2012 Base Rate: 9.75%
November 01, 2011 Base Rate: 10.00%
August 02, 2011 Base Rate: 9.75%
July 13, 2011 Base Rate: 9.50%
May 10, 2011 Base Rate: 9.25%
March 01, 2011 Base Rate: 8.75%
December 31, 2010 Base Rate: 8.25%
December 06, 2010 Base Rate: 8.00%
November 08, 2010 Base Rate: 7.75%
October 01, 2010 Base Rate: 7.50%
July 01, 2010 Base Rate: 7.25%