HDFC, PNB Bank raised lending rates

New Delhi: Banks has increased the interest rates again after the recent hike in RBI's repo rate by 40 basis points. Seeing this recently on Wednesday lending major HDFC banks and Punjab National Bank raised their lending rates by 5 basis points and 15 basis points, respectively.

Following this, the revised rates for the new borrowers will be between 7.05% and 7.50% depending on credit score and loan amount.

Apart from them earlier State Bank of India (SBI) and Bank of Baroda also hiked their lending rates.

Also, the Reserve Bank of India is expected to increase rates once again when it reviews its policy rate next week. RBI governor Shaktikanta Das had earlier said that the expectation of a rate increase were a “no brainer”.