PNB slashes BPLR by 100 bps from Dec 1

New Delhi, Nov 26 (UNI) State-owned Punjab National Bank today announced one per cent reduction in the Benchmark Prime Lending Rate (BPLR) which will be effective from December 1.

The revised BPLR -- 12.50 per cent per annum -- will be applicable in respect of all existing and new accounts, the Bank said in a statement.

It has also decided to slash peak deposit rates by one per cent to 9.5 per cent from 10.5 per cent per annum for deposits of one year to less than three years.

The interest rates on deposits, having maturities of 180 days and above, have also been reduced by 25 basis points (bps)to 100 bps with effect from December 1, the statement added.

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