Allahabad Bank Cuts Benchmark Prime Lending Rate (BPLR) by 25 Basis Points

Allahabad Bank, one of the leading nationalized banks of the country, has decided to cut its Benchmark Prime Lending Rate (BPLR) by 25 basis points from the present rate of 12.25% to 12.00% with effect from 1st July, 2009. The reduction in BPLR has been announced having regard to the declining trend in interest rates and current market scenario and other relevant factors. The reduction in interest rates will be applicable to all existing and future floating rate loans and advances linked to BPLR.

Publicity Department
27th June, 2009