The Hindu Business Line : Union Bank raises rates

Mumbai April 12 Union Bank of India has raised its benchmark prime-lending rate by 75 basis points to 13.25 per cent from 12.50 per cent, effective April 11.

The bank had last raised its prime-lending rate in February 2007 to 12.50 per cent from 12 per cent.

The hike in interest rates will impact advances with floating interest rates linked to BPLR but will not apply to the extant housing loans on a floating rate basis, said a press release by the bank.

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