Allahabad Bank raises BPLR by 50 basic points

New Delhi, Jun 30 (UNI) Coming close on the heels of SBI and PNB, Allahabad Bank today announced an increase in its Benchmark Prime Lending Rates (BPLR) by 50 basic points to 13.50 per cent with effect from July 01, 2008.

The bank has also decided to increase simultaneously the term deposit interest rates in various maturities w.e.f. July 01, 2008, an official statement said.

Maximum term deposit interest value will now be 9.50 per cent per annum in the time bucket of one year to less than 3 years.

For senior citizens, the rate of interest for the same period would be 10 per cent per annum, the release added.

UNI PDT RAR PM1333