UCO Bank revises BPLR

Kolkata, Aug 21 (UNI) UCO Bank today revised its Benchmark Prime Lending Rate (BPLR) by 0.50 per cent to 12 per cent.

However, to ensure that productive sectors of the economy were not affected adversely, the Bank has reduced its spread over BPLR to neutralize the effect of rise in interest on account of increase in BPLR in respect of accounts where interest is presently charged at a rate over BPLR, the Bank said in a statement here. The Bank said that the rate of interest for such accounts would not be affected.

Further, in case of priority sector lending upto Rs 25 lakhs with maturity of upto three years, the maximum rate of interest has been capped at 11.50 per cent per annum, 0.50 per cent below the revised BPLR.

The rate of interest in sub-BPLR segment of the credit portfolio would, however, increase.

UNI TJP JYN SS1253