Dena Bank raises PLR by 75 bps

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New Delhi, Aug 7: State-run Dena Bank said it has hiked its benchmark prime lending rate (BPLR) by 0.75 per cent with effect from Friday, Aug 8. The Bank has also raised interest rates on domestic term deposits by 0.25 per cent to one per cent for various maturities from 91 days to less than five years.

The deposits for maturity of one year to less than three years will earn interest rate of 9.5 per cent per annum. The hike in interest rate on term deposits will be effective from tomorrow, the Bank said in a statement. However, the Bank has not increased interest rates for existing housing loans under Dena Niwas Scheme up to Rs 30 lakh and also on all existing education loans.

UNI

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