Indian Bank raises lending rate

State-owned Indian Bank on Friday raised the lending rate for its existing customers by 25 basis points to 13.75 per cent in line with other banks. The bank has revised its benchmark prime lending rate from the existing 13.5 per cent to 13.75 per cent, Indian Bank informed the Bombay Stock Exchange in a filing. This will make all kind of existing loans, including housing and auto loans, expensive by at least 25 basis points.