Syndicate Bank revises lending rates

Bangalore, Jan 2 (UNI) Syndicate Bank today revised upwards the benchmark prime lending rate by 25 basis points to 11.72 per cent, effective from tomorrow.

The Bank, in a release here, said the increase was necessitated by rising cost of resources and recent revision of bank deposit rates.

Consequently, the interest rates would increase by 0.25 per cent on all loans carrying floating rates of interest, including retail customers of the bank who had availed housing and personal banking loans, the release said.

UNI