Canara Bank revises lending, housing loan rates

Bangalore, May 3: Public Sector Canara Bank today announced upward revision of its Benchmark Prime Lending Rate (BPLR) by 50 basis points to 11.25 per cent and also the interest rates for Housing Loans effective from May five.

The Bank, in a release, said the increase was consequent to the enhanced rates of interest on deposits it had effected in March 2006 and the current trend of lending rates in the market.

The Bank also revised the interest rate on Housing Loans with the floating rates being nine per cent across all tenures and fixed rates revised to 9.50 per cent for loans up to five years and 9.75 per cent for loans above five years.

UNI