IDBI Bank trims BPLR to 12.75 percent
By Neelima Shankar
Jun 30, 2009
Print    Email    RSS   
Industrial Development Bank of India has slashed the benchmark prime lending rate (PLR) by 25 basis points to 12.75 percent, with effect from July 1, 2009.

Prior to cutting lending rates, the bank severed the deposit rates across the different retail maturities by 25-50 basis points and also realigned its maturity buckets for different term deposits.

A statement made by the bank, indicated that reduced rates will be applicable to all loans linked to benchmark prime lending rates, "This will be effective from July 1 and this reduction will apply to all the loans linked to PLR, including home loans."

The rate cut by the bank comes following State Bank of India, the largest lender in country, which lowered its BPLR to 11.75 per cent, a reduction of 50 basis points on Wednesday, June 24, 2009.

Prior to SBI, the Union Bank of India reduced the BPLR by 25 basis point to 11.75 percent.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Home Equity Loan: A shoulder you can bank...
Joint Home Loan: A wise decision for a...
Credit score from CIBIL: will it really...
Property: A good investment option to...
IBA to push for MIBOR as the benchmark rate

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive