Public sector lender United Bank of India has announced a hike by 35 bps in its lending rates. The revised rates are to come to effect from August 03, 2011.

Following the revision, the base rate of the bank would stand at 10.60% while the benchmark prime lending rate (BPLR) would be 14.85%.

The hike in lending rates is an indicative that all retail loans would get dearer by atleast 35 bps now.

Following Reserve Bank of India's announcement on the recent policy rate hike, many lenders have moved towards increase in their lending rates.