State Bank of India today increased its base rate or the minimum rate of lending to 9.80 per cent. In s statement, the SBI said, it has revised the base rate by 0.10 per cent from 9.70 per cent per annum to 9.80 per cent. The lending rate hikes are effective from today. The bank said, retail term deposit rates have been revised upward. SBI also increased the spreads on auto and home loans by as much as 0.20 per cent, which will affect new borrowers. A senior bank offcial said, new housing loans under 30 lakh rupees will come at 10.10 per cent as against 9.95 per cent earlier, while interest rates on auto loans will go up to 10.75 per cent.SBI is the first major state-run bank to hike lending rates after short-term rates rose as a result of the RBI's liquidity tightening moves announced in July. The decision comes on the eve of the mid-quarter review of the monetary policy.