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Public sector Canara Bank has raised its Benchmark Prime Lending Rate (BPLR) by 50 basis points (bps), from 13.25 per cent to 13.75 per cent with effect from tomorrow.
The upward revision in interest rates is applicable to the borrowers under BPLR, a release said.
Further, responding to the market trends and keeping in view the depositors’ interest, Canara Bank has revised the rate of interest on domestic term deposits effective from tomorrow.
The rates have been increased across several maturities.
The increase is in the range of 25 to 150 basis points.
In addition to this, the Bank has also introduced a 1,200-days deposit scheme “Canara Samriddhi” offering an attractive interest rate of 9.25 per cent for general public and 9.75 per cent for senior citizens.
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