Allahabad bank keeps housing, personal,
education, car/auto loans unaffected by BPLR increase
Allahabad Bank,one of the leading nationalized banks of the
country, has decided to increase the Benchmark Prime Lending
Rates (BPLR) by 50 basis points to 14 % with effect from 8th
August, 2008.
The increase in BPLR has been necessitated in view of the
increase in CRR requirement, increase in cost of funds and
overall economic scenario. However, the upward change in the
BPLR will not be applicable to the new Housing Loans up to Rs.30
lacs and all existing Housing Loans, Personal Loans, Education
and Car/Auto Loans.
In order to provide welcome relief to the
depositors against increasing inflation, the Bank has also
decided to increase the term deposit interest rates in various
maturity buckets. Maximum term deposit interest rate will now
be 9.75% per annum in the time bucket of 1 year to less than 3
years. For senior citizens, the rate of interest for the same
period would be 10.25% per annum.
The above changes in the deposit rates would be
effective from 11th
August 2008.
Publicity
Department
8th August, 2008
Press Corner
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