SBI and HDFC Reduce Base Rates by 15 and 25 bps

The State Bank of India (SBI) and HDFC Bank Ltd has reduced their base rates by 15 basis points and 25 basis points respectively, bringing relief to those who have taken loans before April 2016. SBI reduced base rate to 9.10% effective from 1 April compared to 9.25% earlier. HDFC Bank reduced its base rate by 25 basis points to 9%.