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 14% to 13.25% with effect from 10th November, 2008. The reduction in BPLR has been announced having regard to the recent CRR & Repo-Rate cut by the Reserve Bank of India , current market scenario and the need to provide needbased Credit to productive sectors at affordable rates.

The Bank has also announced a reduction of 50 basis points in the interest rates on its Term Deposits effective from 1st December, 2008.

Publicity Department
6th November, 2008

Press Corner