What does BPS mean?

Basis Points (BPS or BP) are a unit of measurement equal to 1/100th of 1 percent or equivalently one ten-thousandth (0.0001). It is used in finance to describe the percentage change in the value of financial instruments or the rate change. One basis point is equal to 1/100th of 1% or 0.01% or 0.0001 in decimal form.
1 BP = (1/100th)*1%= 0.01 %

Examples:
10 BPS = 0.1 %
100 BPS = 1%

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