Indian Bank revises Benchmark Prime Lending Rate

Public sector Indian Bank has revised the Benchmark Prime Lending Rate (BPLR) and Base Rate with immediate effect.

The Chennai-headquartered bank has revised the BPLR by 0.50% from the present 14.50% to 15% per annum, a bank statement said.

The Base Rate is revised by 0.50% from the present 10.25% to 10.75% per annum with immediate effect, it added.

Meanwhile, in another statement, the bank said it has also revised the Foreign Currency Non-Resident (banking) and Non-resident (External) deposits with immediate effect. 

For FCNR (B) deposits, in USD terms, the revised rate has been fixed at 1.76% (1.73% existing) for deposits of one year and above but less than two years.

For deposits of two years and above but less than three years, it has been fixed at 1.64% (1.69% existing).

For deposits of three years and above but less than four years it is fixed at 1.94% (2.09% existing), while for deposits of four years and above but less than 5 years it will be 2.32% (2.54% existing).

For deposits of upto five years, it has been fixed at 2.72% (2.95% existing). 

The revised interest rate for NRE term deposits, has been fixed at 2.51% (2.48% existing) for one year and above but less than two years.

For two years and above but less than three years, it has been fixed at 2.39% (2.44% existing) and for deposits of three years and above and upto five years it has been revised to 2.69% (2.84% existing), the statement added.