DENA BANK RAISES BASE RATE BY 0.5%, BPLR BY 0.25%

Dena Bank has raised its base rate by 0.50 per cent and its benchmark prime lending rate (BPLR) by 0.25 per cent with effect from December 15. Accordingly, the bank's revised base rate will stand at 8.95 per cent and the BPLR at 13.75 per cent.

The bank has also upped its interest rates on term deposits by up to 1.50 per cent.

Deposits for a maturity of 121-179-days will now carry an interest rate of 7 per cent per annum as against the earlier 5.50 per cent.

Deposits of maturities of 180-270-days and 271-364-days will carry an uniform interest rate of 7.50 per cent as against the earlier 6.25 per cent and 6.50 per cent in the respective maturities.

Deposits of a maturity of one-year will now earn an interest rate of 8.25 per cent as against the earlier 8 per cent while deposits of a maturity of more than one-year to less than five-years will carry an interest rate of 8.25 per cent per annum as against the earlier 7.75 per cent.

For senior citizens, an additional interest over and above the card rate at 0.50 per cent per annum for all maturities will be paid.

SOURCE: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/dena-bank-raises-base-rate-by-05-bplr-by-025/articleshow/7092470.cms