Syndicate Bank revises interest rates upward

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Syndicate Bank
Bangalore, Jul 2: Public sector Syndicate Bank announced upward revision of rate of interest on Deposits upto 90 basis points with effect from Wednesday, July 2.

The upward revision of interest on Deposits of one year and above are : Duration Existing rate Revised rate 1 year to 399 days 8.50 9.00 400 to 499 days 8.55 9.25 500 days to Two years 8.60 9.50 2 years and above 8.75 9.00 The Bank has also revised Benchmark Prime Lending Rate (BPLR) from existing 13 per cent to 13.50 per cent. However, the increase in BPLR will not be applicable to Education Loans both existing and fresh sanctions under 'SyndVidya'. The revised interest rate will also not be applicable in respect of existing Housing Loans and Vehicle Loans availed under 'SyndNivas' and 'SyndVahan' respectively, according to a pres release by the bank here.


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