SBI hikes interest rates, loan EMIs set to rise

In a first among major state-run banks, SBI hiked its lending rates after short-term rates rose as a result of RBI's new liquidity tightening moves. The country's biggest money lender raised its home-loan rates to 10.10% (from 9.95%) for loans upto Rs. 30-lakh, 10.30% (from 10.10%) for loans above Rs. 30-lakh and car-loans to 10.75% (from 10.45%) among other hikes.