Country's largest lender, State Bank of India (SBI), today increased base rate or the minimum lending rate for the new borrower by 10 basis points to 7.6 per cent, a move that would make all kinds of advances, including corporate loans, costlier. SBI informed the Bombay Stock Exchange that it has revised the base rate below which bank cannot offer loans, upwards by 10 basis points from 7.5 per cent to 7.6 per cent, effective from tomorrow. This is the first review of the base rate since it was introduced in July this year. As per the RBI guideline, banks have to review their base rate every quarter. With the increase in base rate, all kinds of loans excluding housing and auto loans would be dearer by at least 10 basis points (0.1 per cent). Currently, SBI is offering teaser home and car loans till December and rates would be as announced earlier. The revision in base rate follows the RBI's move to raise short-term lending (repo) and borrowing (reverse repo) rates in its September monetary review. SBI has also raised BPLR for the existing customers by 25 basis points to 12.5 per cent from earlier 12.25 per cent. The new rate would be effective from tomorrow.