Allahabad bank cuts benchmark prime lending rate (BPLR) by 75 basis points

Allahabad Bank, one of the leading nationalized banks of the country, has decided to cut   its  Benchmark  Prime  Lending Rate (BPLR)  by 75 basis points  from  the  present  rate  of  13.25%  to  12.50%  with  effect from 5th January, 2009. The reduction in BPLR has been announced having regard to the reduction by the Reserve Bank of India in Repo rates and CRR. The reduction in interest rates will be applicable to all existing and future floating rate loans & advances linked to BPLR.

Publicity Department
2nd January, 2009

Press Corner