Allahabad Bank revises BPLR by 50 points

Chennai, Feb 17: Leading nationalised bank, Allahabad bank has revised its Benchmark Prime Lending Rate (BPLR) by 50 basis points from the present 12 per cent to 12.5 per cent from February 15.

A release here today stated that due to change in the BPLR, the revised interest rates were leviable on all existing and future working capital and term loans, which were linked to BPLR.

Further, the bank had decided that the present increase in rate of intrest would not be applicable to housing loan at the moment.

However, the bank reserved the right to increase the rates in future depending upon market condition and cost of fund, the release added.

UNI